Friday, May 24, 2013

Velocis Fund Purchases Dallas’ Premier McKinney Place in heart of booming Uptown neighborhood




                        McKinney Place, 3131 McKinney Avenue, Dallas, TX


DALLAS, TX - Velocis, a commercial real estate investment fund, and its investors have purchased 3131 McKinney Avenue, 145,610 square feet of Class A office space in the heart of Dallas’ Uptown neighborhood.

Offering tenants a highly sought after McKinney Avenue address, this institutional-quality asset is the Fund’s ninth portfolio purchase, bringing the total assets under management to more than $240 million.


          Velocis co-founders Jim Yoder, Fred Hamm, Steve Lipscomb, Mike Lewis.

 “McKinney Place is ideally located in one of the most desirable submarkets in Dallas and offers tenants walkability to an unparalleled amenity base along one of the most coveted streets,” said Mike Lewis, Velocis principal and co-founder.

“To further improve on what the building offers tenants, we are planning exciting new additions to enhance the live, work and play experience. Adding this asset to our growing Velocis portfolio offers an excellent opportunity for our investors."

James Esquivel
 The 13-story building is currently more than 90 percent occupied. The property is surrounded by restaurants, upscale residential neighborhoods and some of the city’s best hotels. 

Tenants have immediate access to West Village, the McKinney Avenue Trolley line and can walk or bike to Dallas’ popular Katy Trail. Situated on a six-story parking garage, tenants are afforded views of the surrounding area from all floors.

 HFF represented the seller, a state pension fund advised by Lincoln Property Company in the transaction. Lincoln Property Company will manage the asset and James Esquivel, Jay Bailey and Clint Coe with Jones Lang LaSalle will handle property leasing.

 “This building offers an ideal location for tenants to work in the heart of Dallas’ booming Uptown market,” said James Esquivel, Executive Vice President, Jones Lang LaSalle. “Our team is looking forward to continuing the leasing momentum.”

Uptown Dallas, TX neighborhood
Launched in 2010, Velocis is led by co-founders and principals Fred Hamm, Mike Lewis, Steve Lipscomb and Jim Yoder. In addition to its core-plus fund, Velocis offers advisory services to better serve both investors and real estate clients. 

For a complete copy of the company’s news release, please contact:

Leigh Goodall Mundinger
Sunwest Communications
214-373-1601
 
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873

http://velocis.com/.

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