CBRE Negotiates Sale of 213,585 SF Office Building in Metro Dallas

by Taylor Williams

ADDISON, TEXAS — CBRE has negotiated the sale of The Addison, a 213,585-square-foot office building in Addison, a northern suburb of Dallas. The 11-story, Class A property was built in 1981, renovated in 2016 and was 83 percent leased at the time of sale. The Addison is located off the Dallas North Tollway north of LBJ Freeway and includes structured parking, a fitness center, conference center and a tenant lounge. Gary Carr, Evan Stone, John Alvarado, Eric Mackey, Robert Hill and Jared Chua of CBRE represented the seller, a joint venture between Frontier Equity and Artemis Real Estate Partners, in the transaction. CBRE also arranged acquisition financing through Chicago-based NXT Capital. The buyer was Florida-based TerraCap Management LLC.

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