DALLAS – German investor Union Investment Real Estate is buying the 2000 McKinney Ave. tower for over $220 million, or more than $500 per sf.
The sale could set a record for per-sf office purchases in North Texas.
The 21-story, 442,355-sf office tower has been on the market since earlier this year. The nine-year-old building overlooks Klyde Warren Park and is almost 98 percent leased.
Eastdil Secured marketed the high-rise on behalf of the owners, Lincoln Property and a foreign investment group. Metzler Real Estate of Seattle advised the buyer.
McKinney Ave. is the priciest street for office real estate in the region and the tenth most expensive address for a central business district in the nation.
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