Transwestern Buying State Farm Regional Headquarters
If you build it, Transwestern Investment Group will come, apparently.
Transwestern investment fund Transwestern Corporate Properties I Investor has agreed to buy Park Center I, the newest addition to Central Perimeter's Class-A office empire that is home to State Farm Auto Insurance Co.
It is the first phase, at 602K SF, that is part of a larger Park Center campus for State Farm that will ultimately include three buildings totaling more than 1.7M SF.
Terms of the deal were not disclosed as of press time, and it is unclear if Transwestern is in talks to purchase the rest of the Park Center campus. State Farm sold the building that Dallas-based KDC built for it.
This purchase comes just months after Transwestern paid $825M for State Farm's 2M SF regional hub campus called CityLine in Dallas, according to the Dallas Morning News.