Friday, February 21, 2014

2 Office Building Sales in Addison

ADDISON (HFF) – LPC Realty Advisors is the new owner of Two Addison Circle, a 198,691-sf office property in this north Dallas suburb.
The Class-AA property is at 15725 North Dallas Pkwy. at the entrance to Addison Circle, a 70-acre mixed-use development along the North Dallas Tollway close to the President George Bush Turnpike and LBJ Fwy.
Completed in 2009, the six-story building is 89 percent leased to tenants including USAA and Gehan Homes.
LPC, an advisory affiliate of Lincoln Property Company, purchased the asset on behalf of a public pension fund client.

HFF and CBRE jointly marketed the property on behalf of the seller, Brookfield Property Group.