High demand drives sale of Uptown Dallas’ McKinney Place

DALLAS – The 13-story McKinney Place tower at 3131 McKinney Ave. has been sold.

Built in 1984, the 150,000-sf office building is more than 90 percent occupied.

Invesco Real Estate bought the building from Velocis Fund, which acquired the property in early 2013.

Demand for office building investments is high in Uptown, which has some of the highest rents in the city.

Invesco is already a major player in central Dallas, with its ownership of downtown’s Plaza of the Americas complex. It is also a partner in an 11-story office tower under construction at 1920 McKinney.