Sep 10, 2016
Dallas 870,000-SF office: ‘glittery gold’ and good as sold
DALLAS - Campbell Centre, the two-building office complex along North Central Expressway clad in gold-glinting glass, is under contract and expected to close next month.The Haberman family out of the...
DALLAS – Campbell Centre, the two-building office complex along North Central Expressway clad in gold-glinting glass, is under contract and expected to close next month.
The Haberman family out of the East Coast has put the complex totaling 873,375 sf of rentable space at 8150-8350 North Central Expressway in Dallas under contract.
The office complex—which has an adjacent 300-room DoubleTree hotel—is expected to trade at $145 per sf, or $126.6 million.
According to the Dallas Central Appraisal District, the two 20-story towers are valued at more than $42 million apiece, but the North Central Expressway market has been rising in popularity as Uptown and Preston Center become a pricey place to do business.
The North Central Expressway submarket has a vacancy rate of 12.9 percent, which is lower than the market average of 17.5 percent, according to CBRE’s latest research.
The Central submarket also commands a higher rental rate of $25.09 per sf, which is higher than North Texas’ average rental rate of $23.40.
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