Entrada Partners Understands Intrinsic Value of 921 N. Riverfront
A 27,951-square-foot creative office and retail property at 921 N. Riverfront Blvd. in Dallas, recently sold to Entrada Partners. The price was undisclosed.
The asset is within the Dallas Design District, near Oak Lawn Avenue and I-35E.
Avison Young’s John Bowles, Susan Gwin Burks and Bruce Butler represented the seller, Tricon-Coit LP.
“921 N. Riverfront is surrounded by high-performing market sectors including Uptown, Victory Park, the Central Business and Arts Districts, Trinity Groves, Bishop Arts and the Dallas Medical District,” said Butler. “The Dallas Design District itself has strong development momentum with several recent large-scale projects completed and in progress such as the new Virgin Hotel, Ilume Luxury Apartments and the recently announced Michelin-starred Carbone’s Restaurant.”
Built in 1949, expanded in 1969 and significantly renovated in 2009, the asset is situated on a 1-acre site. It is 95 percent occupied by tenants including Bellini’s Italian Café, PGP-USA and SJL Design Group.
The broker team targeted an extensive investor list to find the right buyer for the asset.
“We knew Entrada Partners had an existing presence in the Design District and would understand the intrinsic value of 921 N. Riverfront,” said Gwin Burks. “Their knowledge and experience in the market allowed them to easily identify the potential of the building and location.”