Chicago investors pick up 1M-sf of offices

​​​​​DALLAS – GlenStar and Singerman Real Estate have acquired eight buildings in the Solana Business Park on SH 114.

The office complex, called the Terrance at Solana, has six five-story, 375,000-sf buildings; a six-story, 309,000-sf facility; and a three-story, 129,000-sf building.

Built in the 1980s, the development has been for sale since last summer when it was less than 40 percent leased. Major tenants include Sabre Corp., Verizon, Goosehead Insurance, and Marsh & McLennan.​

The purchase also includes ​the Solana Fitness Club and 20 acres for additional development.

Redevelopment plans include a new conferencing center, fitness center, tenant lounge, patios, and entertainment space. The previous owners already invested about $50 million in upgrades.

HFF marketed the property on behalf of the sellers, Blackstone Group and its affiliate, Equity Office Properties.​​