Colliers Negotiates Sale of 117,173 SF Office Tower in Addison, TX

Colliers, representing the buyer and seller, negotiated the sale of a 117,173 square foot, 7-story, multi-tenant office tower located in Addison, TX. The office tower, which is fully occupied, is located at 3939 Belt Line Road and is positioned on the north side of Dallas.

Cody Payne, senior vice president at Colliers International arranged the sale. The names and transaction amount were not disclosed. The property, situated in the Addison submarket, was a cash transaction and closed in under 60 days.

Noting that the transaction involved a cross-asset buyer, Payne said: “We continue to see a rise in activity from cross-asset buyers and private investors for Class B office space. The last few that we recently sold, where done within a week or less of marketing and had multiple competing offers.”