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Skywalker Acquires Dallas Office Asset
Skywalker Property Partners has acquired The Crossings I in North Dallas. The company snapped up the 10-story asset with the help of its newest fund, The Leverage Strikes Back. Goddard Investment Group was the seller.
Redubbed to just The Crossings, the 232,541-square-foot high-profile project is situated at 5429 Lyndon B. Johnson Freeway near the 1.5-million-square-foot Galleria Dallas. The Skywalker Property-managed fund’s new holding is 94%-leased, a cash-flowing asset with upside in below-market rents, according to the company.
Todd Savage of Cushman & Wakefield of Texas Inc. and Ben Esterer and Keenan Ryan, both with JLL, represented the seller. Jack Mock, Skywalker’s acquisitions associate, and Chris Aguilar, asset manager, represented the buyer.
Goddard has owned the Crossings for nearly two decades. The office building was completed in 1986 and renovated in 2018.
Skywalker Property is planning several upgrades, such as spec suites, a first for the office building, which will continue to be leased by CBRE. The buyer will assume on-site management.
- ◦Sale/Acquisition
