Tuesday, January 29, 2013

Addison office tower sold to investors

Dallas-based real estate firm Cawley Partners said Tuesday that it has purchased an Addison office building in partnership with a California investor.
The One Hanover Park building is located on the west side of the Dallas North Tollway north of Westgrove Drive.

Built in 1999, the 8-story office building contains almost 200,000 square feet and is about 80 percent leased.
Cawley said it bought the building in a joint venture with San Francisco-based Stockbridge Capital Group.

Terms of the sale were not disclosed.

The building was purchased from an affiliate of Miami-based Lennar Partners which represented the debt holders on the property.

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