Monday, April 02, 2012

Granite Properties buys 3-building Uptown Dallas office complex

Granite Properties
The 3-building Cedar Maple Plaza was built in 1985.
A three-building office purchase has just added to Granite Properties’ holdings in Uptown Dallas.
The Plano-based commercial real estate firm said Friday that it has acquired the Cedar Maple Plaza complex on Cedar Springs Road.
The 120,000-square-foot office project is just across the street from the landmark Crescent complex.
“Space in Uptown is always in demand, and one of the benefits of this acquisition is that it is a boutique building in an ideal location,” Granite chief operating officer Greg Fuller said in a statement.
While the buildings weren’t widely marketed, there were several bidders. “There always is, even with an off-market deal — four to five that I’m aware of,” Fuller said.