The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 29, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



TEXAS/SOUTHWEST NEWS
Printer-friendly Version   Email an Associate
Buchanan Street Partners Closes 196k sf Dallas Area Office Buy

5/18/16

Bluffview Towers, a 196.4k sf office property adjacent to Dallas Love Field Airport was acquired by Buchanan Street Partners. The two-building property, which was sold Commercial Developments International (CDI), marks Buchanan’s fourth acquisition in the Greater Dallas area in the last 16 months.

Bluffview Towers is located at 3860 and 3890 West Northwest Hwy, near the affluent Bluffview and Preston Hollow neighborhoods. The property features an Embassy Suites hotel on site, which was not included in the purchase, and is within three miles of Preston Center, an 800k sf retail and dining center.

Bluffview Towers is currently 82 percent occupied with several long-term tenants. Buchanan Street has plans for lobby improvements and tenant common area upgrades to bring the project up to Class A standards.

According to Buchanan Street, Dallas Love Field experienced an 87-percent increase in passenger traffic year-over-year in September. This increased activity followed the October 2014 expiration of the Wright Amendment, a 1979 federal law that limited long haul flights out of the airport.

“We have noticed a significant change in the area surrounding Love Field. The surge in traffic and business at the airport was a major factor in the buildings’ purchase,” said Matt Haugen, vice president at Buchanan Street Partners. “We anticipate local expansion as corporations view this area as a more preferred location, both for daily commutes and accessibility to the airport for business travel.”

“The property has instrinsic value given the current tenants and projected growth around Love Field. By implementing insitutional quality upgrades and leveraging the location, we plan to reposition this property to elevate its standing in the market,” said Haugen.

Jack Crews, Evan Stone and Lauren Zimmer of JLL represented CDI in the transaction, while Buchanan Street represented itself.

Buchanan Street also recently purchased several other buildings in the Greater Dallas area that are poised for growth as a result of postitive absorption and infrastructure improvements. The properties include Tollway Plaza, a prominent two-building property in Addison, Richardson Office Center I & II in Far North Dallas and Granite Tower in Northwest Dallas along LBJ Freeway.





Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media