Dallas: two-building office complex sold, redo to Class AA

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DALLAS – Two North Central Expressway office buildings — 6060 and
6080 North Central Expressway — have been acquired by a joint venture
between Houston-based Triten Real Estate Partners and Chicago-based
Convexity Properties.

6060 North Central Expressway is an
eight-story, 224,682-sf boutique office building. It was constructed in
1972 and renovated seven years ago.

The second building, 6080
North Central Expressway, includes a four-story building with three
levels of parking and a floor totaling 45,817 sf of office space.

According to JLL second quarter research, office rates in the North Central Expressway submarket average $23.74 PSF plus utilities, compared to Uptown where average asking rates are $33.53 PSF.

The
new partnership plans to immediately begin a multimillion-dollar
renovation to the buildings to bring them up to Class AA standards. In
the future, the two firms plan to build a mixed-use lifestyle center
surrounding the properties to focus on offering a work-play-live
environment to the neighborhood.

At the time of the deal, 6060
North Central Expressway was 88 percent leased and 6080 North Central
Expressway was 100 percent leased to Zenith Education Group.​