Thursday, January 08, 2015

Uptown Dallas office tower sells to Invesco

McKinney Place was built in 1984.
Invesco Real Estate has made a high-profile building buy in Dallas’ Uptown district.
Invesco has purchased the 13-story McKinney Place tower at 3131 McKinney Avenue.
The 150,000-square-foot office building was constructed in 1984 and is more than 90 percent occupied.
Invesco bought the Uptown building from Velocis Fund, which acquired the property in early 2013, county deed records show.
McKinney Place was marketed for sale by HFF.
Demand for office building investments is high in Uptown, which has some of the highest rents in the city.
Invesco is already a major player in central Dallas, with its ownership of downtown’s Plaza of the Americas complex.
And Invesco is a partner in an 11-story office tower under construction at 1920 McKinney at Harwood Street.
By Steve Brown, Dallas Morning News