Tuesday, August 13, 2013

Recent Acquisition of Interchange Office Center

BEVERLY, Mass.--()--Brookwood Financial Partners, LLC (“Brookwood”), a leading real estate investment and asset management company, announced today that it has acquired Interchange Office Center, a three-story, multi-tenant Class A office building located in Dallas, Texas. Interchange Office Center, which has 150,596 square feet of space, was constructed in 1997 and is situated approximately 16 miles north of downtown Dallas at the intersection of the Dallas North Tollway and the George Bush Turnpike.

“Interchange Office Center is a well located, Class A asset that is 88% occupied by tenants whose rents are currently 15% – 20% below today’s market rents,” said Thomas W. Brown, Brookwood’s Director of Acquisitions. “There has been significant population and job growth in the Dallas area that has led to strong levels of market absorption, which when coupled with the overall lack of new construction, has resulted in both a decline in vacancy rates for Class A office space and upward pressure on rental rates along the North Dallas Parkway,” he added. “Our objective is to achieve higher rental rates as leases renew at the property and to lease-up the remaining vacant space at these higher rates.”

Read More At: http://www.businesswire.com/news/home/20130719005529/en/Brookwood-Announces-Acquisition-Interchange-Office-Center-Dallas

July 19, 2013 09:46 AM Eastern Daylight Time