FORT WORTH-Citing location, tenant quality and lease terms as chief dealmakers, Dallas-based Behringer Harvard Real Estate Investments has pocketed the deed to the 134,246-sf CentrePort Office Center for its REIT I fund. The two-building asset is triple-net leased long term to Dean Foods Co. and Radiant Systems Inc.

“The pricing was right,” Jason Mattox, executive vice president for Behringer Harvard, tells GlobeSt.com. And though he can’t discuss the sale price, he did say the acquisition cost fell below the federal reporting level. The asset is assessed at roughly $77 per sf, driving local sources to believe the deal closed in the neighborhood of $90 per sf due to underlying dynamics.

According to Holliday Fenoglio Fowler’s marketing brochure, Dallas-based Dean Foods’ lease for the 66,364-sf back-office building at 14760 Trinity Blvd. is good until September 2014. The Alpharetta, GA-based Radiant’s hospitality division is in place until June 2016 in the 66,682-sf sister at 14770 Trinity Blvd. “These are an attractive set of tenants in a good market and a good fit with the portfolio,” Mattox says. In keeping with the buying fund’s strategy, the hold is eight to 12 years.

The complex was developed in 1999 on 15.29 acres in the heart of the 1,300-acre CentrePort, just south of the Dallas/Fort Worth International Airport. Dallas-based Invesco Real Estate had HFF’s senior managing director Andrew Levy and director Todd Savage steering the sale of a asset that it bought in January 2003. The core asset was on the market free and clear of debt.

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