When the Dallas developer broke ground in spring 2008 on the building at 9420 W. Sam Houston Parkway North, at the intersection of Beltway 8 and West Road, the intent wasn't to sell immediately. However, "we were out marketing it for lease, and a group came to us and said they were interested in either lease or purchase," says PM Realty Group's Wade Bowlin, who represented the seller with PM Realty's Doug Little. "They were a user, and ultimately ended up buying it."
Bowlin tells GlobeSt.com that there'd been a great deal of interest from potential tenants, even before the buyer came along. "We were in negotiation with a couple of other groups at the time, not for the full building, but that were going to take a significant portion of the building.
He says the new owner will make some more tweaks to the building, which was delivered in shell condition. Finish-out will be necessary, he adds, and the new owners, represented in the purchase by Robert Parsley and William Byrd of Colliers International, could be putting a data center in it as well.
"That market is a 'tweener,' it's between Westchase and Northbelt," Bowlin explains. "The fact you have a brand-new development coming out in this market, and sells prior to being completed is great."
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