Bisnow Exclusive: Southlake Office Trades for $270/SF
PEBL Partnership snagged Bowen Office Building, a 13k SF property in one of DFWs most dynamic submarkets, at a remarkable price per SF.
Edge Realty Capital Markets principal Brandon Beeson repped the seller and tells us the newly constructed Class-A property is unique among whats on the market. The property was built in 07 at 1110 East SH 114 in Southlake and is highly visible from the highway. (Which makes it the perfect place to put a really big "lost dog" poster.) It was 100% occupied at TOS, but PEBL plans to occupy part of the building. Brandon tells us users are generally able to pay more for assets, which helped push the price tag to $270/SF.
Brandon says most interested parties were regional investors, but the demographics, position across from Southlake Town Center, and strong tenants (Southwest Securities and Trinity PartnersPEBL will replace Trinity in the building) attracted attention beyond the local market.