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.
“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
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