DALLAS – August 10, 2016 – CBRE Capital Markets’ Institutional Properties announces the sale of Dominion Plaza, a Class A office asset in Far North Dallas, to an undisclosed buyer. The property is comprised of a 14-story office tower and a three-story office building with 318,695 net rentable square feet. The property also includes a four-level parking garage and surface parking.
CBRE’s John Alvarado, Gary Carr, Eric Mackey and Robert Hill arranged the transaction on behalf of the seller, Dalfen America Corporation.
“Investors were attracted to Dominion Plaza for the quality of the asset and its compelling economic profile,” said Mr. Alvarado, Senior Vice President of CBRE. “In addition, the property is very well located within the Preston Road Corridor and benefits from the exceptional fundamentals and demand for a Far North Dallas address.”
Dominion Plaza is 83.5 percent occupied and leased to credit-worthy tenants that include Regus, Tenet Healthcare, Old American County Mutual, RoundPoint Mortgage, and healthcare staffing firm ESS. On-site amenities at the property include a renovated fitness center, full-service deli, modern conference facility and outdoor courtyard.
Dominion Plaza is located among some of the most exclusive neighborhoods in Far North Dallas, including Prestonwood and Bent Tree, and is convenient to a concentration of premier shopping, numerous high-end hotels, parks and country clubs.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
