Phoenix rises to $120M for Encana tower

PLANO – Cole Real Estate Investments has purchased the 12-story, 318,600-sf Encana Oil & Gas tower for $120 million. The Class A tower, located on the Dallas North Tollway in Legacy Business Park, is fully leased to Encana.

The purchase price — more than $375 per sf — is one of the highest paid recently for a local office property. The building at 5851 Legacy Circle was completed in October 2012

Phoenix-based Cole Real Estate owns 70.6 million sf of commercial real estate in 47 states.