Friday, May 12, 2017

North Central Expressway tower expected to trade hands by this summer

The 20-story office tower — called Northpark Central — that is the home of Dallas-based TopGolf and, is on the market and is expected to sell by the end of the summer for upwards of $130 million, real estate sources say.

The 491,803-square-foot office building at 8750 N. Central Expressway was acquired in March 2011 by Scottsdale, Arizona-based Cornerstone Advisors, who executed a major upgrade to the tower.

The Richards Group left the tower in 2015 to move into its new corporate headquarters building in the West Village. Cornerstone Advisors invested millions in capital into the property.

The upgrades brought TopGolf and into the building, backfilling the floors left empty by The Richards Group.

Real estate sources say the office rents in the North Central Expressway building have gone up dramatically in the last few years as the ownership group also expanded the parking for the office building.

Eastdil Secured is representing the seller in marketing the office tower.

Candace Carlisle/Dallas Business Journal.