Sunday, May 01, 2016

Uptown Dallas office tower hits the market at expected record price

The 2000 McKinney office tower at McKinney and Olive in Uptown is for sale. (The Dallas Morning News)

An Uptown office building could set a new price point for Dallas properties.The 21-story 2000 McKinney high-rise fronts on Klyde Warren Park and is across the street from the Ritz-Carlton Hotel.The 9-year-old building is almost fully leased to major businesses including Texas Capital Bank, Benchmark Title and Lincoln Property Co.The tower just hit the sale market and is expected to fetch close to $500 per square foot, which would be a record high for Dallas, real estate brokers say.Lincoln Property and a foreign investment group, which jointly own 2000 McKinney, have hired Eastdil Secured to market the high-rise to potential buyers. The 445,000-square-foot tower could go for close to $225 million.
By Holly Haber of the Dallas Morning News