"The key thing about this deal is the price per sf. It wouldcost well over $250 per sf to replace today," Ted Gibbons,president of Investment Realty Advisors Inc. in Bellevue, WA, tellsGlobeSt.com about the acquisition of 8505 Freeport Pkwy. Thesix-story building is 95% leased, with 80% of the office space asthe North America headquarters for Hanson Aggregates Inc., withnine years left on its Las Colinas submarket lease.

Gibbons says the buyer is a private investor from South Florida.The seller is a limited partnership with Naples, FL and Minneapolisties, which had the NAI Welsh team of Bob Pounds, Tim Prinsen andBetsy Budge in the Twin Cities region marketing the 8.3-acreproperty.

"It was a fairly competitive situation," Gibbons says. "I'mreally amazed that we could buy this asset at that price." Theproperty was marketed for $17 million.