KBS pays $31M for Uptown Dallas tower

DALLAS – KBS Realty Advisors has acquired the 164,011-sf Highland Park Place for $31.3 million. Located at 4514 Cole Ave., the property includes a Class A, 17-story office tower and an adjoined seven-level parking garage.

The California-based buyer struck a deal with Heitman Capital Management LLC of Chicago for the asset, which is in Uptown’s Knox-Henderson District and is also within the Knox St. Public Improvement District.

With an occupancy rate of approximately 83.6 percent at the time of sale, the current tenant mix comprises legal services, professional and business services, energy and health care.

Read more at GlobeSt.com.