PLANO, TX-In an off-market transaction, Behringer Harvard has picked up a 33,467-sf, value office building that’s practically full. The acquisition is the fifth one for the investment group’s mid-term fund.

A limited partnership from Colleyville sold the three-year-old Parkway Vista at 5072 Plano Pkwy. in a one-off scenario. The 97%-leased holding was turned over to Dallas-based Trammell Crow Co. to manage and fill.

“It is a smaller deal, but it does match with the fund,” Jason Mattox with the Dallas-headquartered Behringer Harvard tells GlobeSt.com. Not only is the final price off limits, but a comparable product isn’t nearby. The two-acre development, though, is assessed at $4.5 million by Collin County.

The tenant roster includes American Express Financial Advisors, SouthTrust Mortgage Corporation and several physicians. Leases roll gradually over the next three to five years, Mattox says. “It’s in great shape and has a great tenant base,” he adds, citing a quoted rent hovering $20 per sf.

Kip Sowden of Realty America Group brokered the sale of the two-story building. Mattox says the acquisition opportunity for the Mid-Term Value Enhancement Fund I LP arose through “a relationship” with Sowden’s firm. The dealmakers, he says, are location and tenant base.

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