Wednesday, October 29, 2014

North Central Expressway office project bought by Caddo Holdings


Dallas-based property investor Caddo Holdings LLC is adding to its holdings with a North Central Expressway office building.
An affiliate of Caddo Holdings bought the 4228 North Central Expressway building, which is located between Fitzhugh and Henderson avenues.
The 52,000 square foot building was developed in 2000.
Terms of the sale were not disclosed. American Bank of Texas provided the financing.
Caddo plans to spend more than $1 million in upgrades on the property.
“The quality of the building and strong demographics around the intersections of Knox-Henderson, Fitzhugh and Central attracted us to this property,” Tim Slaughter, President of Caddo Holdings said in a statement.
Nathan Denton of Lee & Associates negotiated the purchase.
JLL has been hired to lease the buildings.
Meridian Bank of Texas is a major tenant in the property.
With its latest purchase, Caddo has acquired nine buildings with 950,000 square feet since the company was formed in 2009.
In February, Caddo purchased the 10-story Preston Plaza office building in Far North Dallas
in partnership with AFO Capital.
 Caddo recently sold two Uptown buildings to Investcorp.
The company sold its Crosstex Energy building on Cedar Springs Road to Mexican investor Grupo Haddad.