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| De'On Collins |
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF)
announces the financing of a seven-property office and industrial portfolio
totaling 508,840 square feet in the Dallas-Fort Worth MSA.
The HFF team worked on behalf of the borrower,
Entrada Partners, to place the three-year, floating-rate, non-recourse loan
with two one-year extension options with Bank of America Merrill Lynch. Proceeds of the loan were used to purchase
the assets and fund future capital and tenant improvements for new leasing.
The portfolio comprises
six office assets and one industrial asset completed between 1983 and 1987.
The office properties consist of two Irving
properties, Counterpoint at Las Colinas at 8101 and 8113 Ridgepoint Drive in
the East DFW Airport/Las Colinas submarket and Sterling Tech Center at 7801,
7803 and 7805 Mesquite Bend Drive in the DFW Freeport/Coppell submarket;
Also, two Dallas
properties in the West Hines North submarket, Dallas Tech Center at 10005,
10015, 10025 and 10105 West Technology Boulevard and Westwood Business Park III
at 1805 Royal Lane;
Also, one property in Richardson, International Corporate Park II at 401, 403, 405, 407 and 409 International Boulevard in the Richardson submarket; and one Farmers Branch property, Valwood XII at 13701 Hutton Drive in the North Stemmons/Valwood submarket.
Also, one property in Richardson, International Corporate Park II at 401, 403, 405, 407 and 409 International Boulevard in the Richardson submarket; and one Farmers Branch property, Valwood XII at 13701 Hutton Drive in the North Stemmons/Valwood submarket.
The industrial property,
International Corporate Park III, is located at 900 Alpha Drive and 500
Industrial Drive in Richardson within the Richardson submarket.
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| Reuben Berman |
“We are excited to expand
our office, flex and industrial presence in the market in order to be part of
the booming corporate tenant demand,” said Entrada Partners founder, Reuben Berman.
According to CoStar, The
Dallas-Fort Worth Metroplex has an unemployment rate of 3.8 percent and
continues to add 317 jobs per day.
DFW continues to be ranked in the top 10 largest office markets in the United States, and the occupancy rate has remained higher than 85 percent since 2014.
The Dallas flex market is the largest market in the U.S. by rentable building area at 133 million square feet and remains 93.7 percent occupied.
DFW continues to be ranked in the top 10 largest office markets in the United States, and the occupancy rate has remained higher than 85 percent since 2014.
The Dallas flex market is the largest market in the U.S. by rentable building area at 133 million square feet and remains 93.7 percent occupied.
The Dallas-Fort Worth
industrial market is the fourth largest in the United States, containing
approximately 864 million square feet of buildings as of the end of the second
quarter 2017. The market-wide occupancy
rate was 93.5 percent and continues to show strong signs of improvement with
expansions, solid retention and new move-ins to the market.
For more information on this news release, please
contact:
Olivia Hennessey
Public Relations
Specialist
HFF | 9 Greenway Plaza,
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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