465,703-SF North Texas Office Trio Trades Hands

DALLAS (HFF) – DRA Advisors LLC has purchased a three-building North Texas office portfolio totaling 465,703 sf. The seller was Harbert Management Corporation.

The 165,434-sf 5000 Quorum Dr. building is on 4.5 acres between the Dallas North Tollway and Inwood Rd. in Dallas. It has seven stories and is 77.2 percent leased.

At nine stories and 181,737 sf, Quorum Place is the largest of the three buildings. The 78.2 percent leased building is on 5.4 acres at 14901 Quorum Dr. in Addison, north of the 5000 Quorum Dr. property.

Also in Addison is Quorum North, located at 13201 Spectrum Dr. It is on 2.8 acres northeast of the other two properties. The 118,532-sf, five-story building is 75.7 percent leased.

The properties were purchased free and clear of debt. HFF secured three separate three-year, floating-rate loans through OneWest Bank.