DALLAS — CBRE has arranged the sale of Trinity Towers, a Class A, 634,381-square-foot office tower located in the Medical and Love Field District of Dallas.
The 20-story building was recently renovated and features structured parking, a full-service deli, conference center and fitness center with locker rooms.
The tower is 97 percent leased to tenants including Aetna, Children’s Medical Center and Southwest Airlines.
Gary Carr, Eric Mackey, Evan Stone, John Alvarado, Jared Chua and Robert Hill of CBRE worked on behalf of the seller, JP Realty Partners. Stanton Road Capital acquired the property. The price was not disclosed, but a website affiliated with The Dallas Morning News, dallasnews.com, reports that the asset was sold for $50 million.
“As one of the market’s most recognizable buildings, Trinity Towers presented investors with an exceptional asset located within Dallas’s premier emerging marketplace,” says Carr. “The building’s outstanding tenants and low-risk upside potential attracted a wide range of investor interest.”
The property is positioned along Stemmons Freeway, and is located near both Dallas Love Field Airport and DFW International Airport.
Stanton Road Capital is a Los Angeles-based investment management firm focused on commercial real estate and private equity strategies.
— Katie Sloan