Thursday, July 18, 2013

Allstate Corporate Campus Bought by Cole


Phoenix-based Cole Real Estate Investments (NYSE: COLE) bought Allstate's Irving five-building office campus totaling 458,338 square feet of space.
The real estate investment firm bought the campus from the Allstate Insurance Co. in a sale-leaseback deal. This is one of the largest sale-leasebacks in Dallas-Fort Worth since 2008, according to Colliers International research.
Cole Real Estate Investments represented itself. Creighton Stark and Ben Lurie of Colliers International's Dallas office, along with Bill Fausone, president of the firm's Chicago office, represented the Allstate.
As part of the deal, Allstate committed to a 12-year lease at its Irving campus.
More info at:
Staff Writer-Dallas Business Journal