Wednesday, August 21, 2013

Dallas North Tollway Office Tower Up for Grabs

A Dallas North Tollway office tower is hitting the market.
KBS Realty Advisors has decided to sell the 14-story Millennium Tower at the tollway and Arapaho Road in Addison.
And the investor has selected CBRE Group to market the building.
The 351,683-square-foot high-rise is almost 98 percent leased and built in 1999. It’s been owned by KBS since 2008.
Tenants in the building include Dresser Inc., Life Insurance Company of the Southwest and Grand Homes.
CBRE’s Gary Carr, John Alvarado, Eric Mackey and Robert Hill will market the building.
KBS’ plan to sell Millennium Tower is just the latest in a series of recent investment moves by the California-based real estate firm.
KBS just purchased two office tower complexes in Dallas’ Preston Center district – Preston Commons and Sterling Plaza.
Author: Steve Brown