Wednesday, July 09, 2014

North Dallas office tower sold to investor

A North Dallas office tower has changed hands after the previous owners upgraded the property.

Encore Enterprises bought the 11-story Two Forest Plaza building at 12201 Merit Drive near LBJ Freeway.

The 200,000-square-foot highrise is about 70 percent leased and was sold by Parmenter Realty Partners. Major tenants in the property include La Madeleine’s corporate offices and New York Life Insurance.

Creighton Stark and Jack Minter of Colliers International brokered the sale.

Parmenter had owned the building located in the Park Central development since 2007.

Terms of the sale were not disclosed.

Encore is expanding its operations in North Texas. The company recently announced that it would be a partner in the development of a Frisco office building for Gearbox Software.

“We are excited about the opportunity to add Two Forest Plaza to our portfolio and establishing a presence in the Park Central area,” Mark Cypert, president of Encore Office, said in a statement.

Steve Brown- Dallas News