Friday, January 23, 2015

3 Quorum Drive Buildings Close in North Dallas

HFF has closed the sale of and arranged acquisition financing for a three-building office portfolio totaling 465,703 square feet in North Dallas.
Ala.-based Harbert Management Corp. New York City-based DRA Advisors LLC purchased the asset.
The portfolio consists of 5000 Quorum Drive in Dallas, and Quorum Place and Quorum North in Addison. Situated on 4.5 acres between the Dallas North Tollway and Inwood Road, the 165,434-square-foot 5000 Quorum has seven stories and is 77.2 percent leased. At nine stories and 181,737 square feet, Quorum Place is the largest of the three in the portfolio. The 78.2-percent-leased building is situated on 5.4 acres at 14901 Quorum Drive, north of the 5000 Quorum Drive property. Quorum North, located at 13201 Spectrum Drive, is situated on 2.8 acres northeast of the other two properties in the portfolio. At 118,532 square feet, the five-story, 75.7-percent-leased office building is the smallest in the portfolio.   By Anna Caplan