Transactions - MAY 2, 2016

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Dallas office complex to sell for $825m

by Andrea Waitrovich

Transwestern is in contract to acquire the State Farm Operation Center in Richardson, Texas, for a rumored price of $825 million in a sale-leaseback deal with State Farm Insurance, according to Real Capital Analytics. Eastdil Secured represented the seller.

The office complex totals 2.3 million square feet spread across four buildings. It is 100 percent occupied by State Farm.

Dallas had the third most active property sales market in 2015, according to RCA’s “Top 40 Markets of 2015,” a position it has held for the past seven years, with a total of more than $19.5 billion in sales volume, a 25 percent year-over-year change. During first quarter 2016, the Dallas market had 252 closed property sales, totaling more than $3.4 billion in sales price. First quarter office transactions totaled 41 properties valued at $621 million; the market’s most active property type was the apartment sector, which saw 106 assets sell for more than $2 billion

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy