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4/22/16
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In a recent office investment buy out of Texas, Symphony Commercial paid $16 mil for a 202.6k sf ($79/sf), three-building office park located 4002-4006 Belt Line Rd in Addison, near Dallas.
The property was sold by Adler Realty Investments Inc, who acquired the project in 2007. During their stewardships of the property, Adler renovated the buildings and brought the occupancy up to stabilization with multiple lease transactions. Adler successfully restructured the debt to enable the company to carry the project through the economic downturn.
Ron Hebert of Marcus & Millichap represented the seller in the transaction.
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