Friday, September 19, 2014

Dallas North Tollway office tower project up for grabs

Spectrum Center was built in 1983 and recently remodeled. (Granite)
One of the biggest office projects along the Dallas North Tollway is up for grabs.
The almost 600,000-square-foot Spectrum Center development is at the northwest corner of the tollway and Belt Line Road and has been owned since 2010 by Granite Properties.
The developer and investor spent $6 million in upgrades to the twin, 12-story towers, which was built in 1983.
Now the buildings are being marketed for sale by HFF.
Spectrum Center is almost 85 percent leased with tenants including Wells Fargo, Humana and Principal Life Insurance.
Granite has put Spectrum Center on the market at the same time the commercial property company is breaking ground on a new office tower in Plano.