The new owner is starting the play with Greyhound's name on thelease at 15110 N. Dallas Pkwy. until 2012 and the bus lines incontrol of subleases for a 10,000-sf office to Bank of America,roof rights to AT&T Wireless and billboard rights to Viacom.The local partnership won the deal in a re-marketing after twoother contracts fell out, Ronald Hebert, senior associate anddirector for Marcus & Millichap Real Estate Investment Servicesin Dallas, tells, adding the hurdle was financing.


"With the tenant dark, it changed the dynamics," Hebertexplains. Although Greyhound's name is on the lease for a few moreyears, he says it's only lighting a 2,000-sf data center. Itsheadquarters operations moved in March to the Patriot Tower at 350N. St. Paul St. in the Downtown Dallas.


It's the secondtime that Hebert, who brought the buyer to the table forthis go-round, has sold the building. Matthew Kipp, a seniorassociate in Marcus & Millichap's Newport Beach, CA office,represented the seller, Dr. Herbert Tarlow of Anaheim, CA. "Hewanted to sell because Greyhound was moving out," Hebertconfirms.


Hebert says the six-story building, sporting a class A location,generated more than 20 offers in the two marketing rounds, with theDallas partnership pocketing the win with the highest bid at theend of the day. The office building and three-story parking garagewere developed in 1983 on a 2.66-acre tract at the northeast cornerof Beltline Road and North Dallas Parkway.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.