72-Acre Solana Office Sells to Chicago Buyers

A little more than a year after coming to market, eight buildings in the Solana business park sold to GlenStar Properties LLC and Singerman Real Estate. Blackstone Group and EQ Office sold the 1.6-million-square-foot, 72-acre office portion of the 233-acre Solana development, located in the suburban Fort Worth city of Westlake, TX. HFF negotiated the transaction between the seller and the Chicago-based buyers.

The new owners are planning to invest capital in the property, which was originally built for IBM in the 1980s. Redevelopment plans include a new conferencing center, a tenant-only fitness center, a tenant lounge, and patios. The previous owners had already invested about $50 million in upgrades.

The buy is GlenStar’s second in North Texas; it is currently renovating the more than 1-million-square-foot Energy Square office complex in North Dallas.

Pictured: Terrace at Solana

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