David Dees, marketing representative for Wilcox Realty Group in Dallas, says Brookview Plaza at 1450 Empire Central Dr. was on the market for lease when the pilots' broker, Dane Thomson of Thomson Realty Group, started courting to buy. The pilots association now offices in 12,000 sf in the American General Tower in Exchange Park, about 1.5 miles from its new purchase, which came with two tenants and room to grow.
Dees tells GlobeSt.com that the association put up $38 per sf, all cash, for the Beta West-managed asset owned by Phoenix Home Life Insurance Co. A makeover of common areas, started by Beta West, will be finished by the new owner, he says.
The association is still fine-tuning its plan, but will be occupying 12,000 sf to 15,000 sf. US Healthcare leases 7,700 sf and Ultimate Staffing has a 900-sf office, leaving about 15,000 sf that will be brought to the leasing market with Thomson as the broker. Under Beta West, the quoted rent was $13.75 per sf, full service.
The class B, garden-style building sits on 1.5 acres at the corner of Empire Central and Elmbrook Drive in an office submarket flanked by larger product and plenty of open space for lease and even for sale. "A building its size is hard to find for sale," Dees says of the closed deal. "It really worked out. They're a great fit.
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