"We love the location near all the high-profile projects inUptown. It's very vibrant and will be even more so in three to fiveyears," Bill Rogalla, senior vice president and acquisition officerfor the Newport Beach, CA-based KBS, tells GlobeSt.com. "With theability to lease up the remaining vacancy in the building, it wasvery attractive to us."

The eight-story building and attached five-story parking garageis assessed at $21.96 million or $199 per sf. Word is the 0.8-acrefootprint, developed in 2003, fetched in the neighborhood of itsassessment, trading free and clear.

Rogalla says the closing for a KBS value fund came within 120days of his first look at the office building and its high-profilelocation--across the street from the Crescent and Ritz-CarltonHotel and two blocks from American Airlines Center and VictoryPark. Transwestern Dallas managing directors Michael Hardage andSteve Simon were traveling and unavailable for comment about theasset's drawing power during the marketing run for the Waco seller,Seneca Investments.

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