Recent Office Sales in Dallas
The real estate market of Dallas shows a remarkable improvement in the recent months. In the month of January 2013, 38 office buildings were sold in the whole market, an increase of 22.6% over the previous year.
Houston, Texas (I-Newswire) March 18, 2013 - The real estate market of Dallas shows a remarkable improvement in the recent months. In the month of January 2013, 38 office buildings were sold in the whole market, an increase of 22.6% over the previous year. In particular Dallas County has reported a figure of 19, almost a four-fold increase, when compared to January 2012. In terms of square feet, overall sales have decreased by 5.9% compared to January 2012. Some of the recent sales include:
In the month of January 2013, May Day Interests LP, an entity of Slingshot LLC has purchased 501 Elm Place, a 128,000 square-foot, Class D traditional office building located at 211 North Record Street in Dallas, Dallas County, from 501 Elm Place Partners Ltd, an entity of Collinternational Inc. The 109-year-old property is 97.8% occupied with average rents at $16.00 per square foot. The property is located at the Southeast corner of Elm Street and North Record Street. The multi-tenant office property has access to both Elm Street and North Record Street. The five-story office building is situated on 0.70 acres. The contiguous space available is 1,422 square feet and the rent type is gross. According to the appraisal district records, the total assessed value is $2.9 million.
Another significant sale from the month of January is the sale of 601 Elm Street, a 57,000 square foot Class D traditional office building located at 601 Elm Street in Dallas, Dallas County, from 7223 Elm LP, an entity of Swain & Baldwin Insurance & Risk Management. Purse Development Company LLC has purchased the property. The 107-year-old property is fully occupied. The six-story office building is located right in between Ross Avenue and Elm Street. The property has access to Ross Avenue, Elm Street and North Record Street. The single-tenant building is situated on 0.22 acres. The rent type is gross. According to the appraisal district records, the total assessed value is $1.38 million.
Real estate decision makers need timely market data to make informed decisions. It provides insights regarding construction, proposed projects, absorption, and occupancy and rental rate trends. O’Connor and Associates has been providing real estate data since 1988. Both internal and external clients regularly use our real estate market research. The Market Research and Consulting division of O’Connor & Associates provides information necessary to make decision to commercial real estate professionals. Occupancy and Rental Data, ownership and management information are routinely gathered for four major land uses – multifamily, office, retail and industrial. This information allows investors to compare competitive properties, facilitate business decisions and track market and submarket performance. In addition the data is useful to brokers who for example continually monitor Houston retail space leasing, Houston office space leasing, Dallas retail space leasing, Dallas Office Space For Lease , Houston industrial space leasing, Houston apartments, Dallas apartments, Fort Worth apartments, Dallas Office Space For Rent Austin apartments, and San Antonio apartments.
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Published On:March 18, 2013
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