Bisnow Scoop: Irving Office Gets Facelift; The Deal Sheet
A new year, a new look: The vacant, 64k SF 1400 Corporate Dr in Irving has been snatched up byÂ Triad Real Estate Consulting, which plans to upgrading the lobby and common areas, among other renovations, we learned exclusively from the sellerâ€™s rep. (This is your chance to put a bowling alley in the basement... just sayin'.)
Younger Partners' Dustin Volz and Zane Marcell (whom we snapped over lunch) repped the seller, an out-of-state investment group. Sales price was not disclosed. Dustin says he's continuing to see a major price recovery, especially in the Class-B and C assets over the last nine to 12 months in DFW. Things have particularly picked up since March. (Everyone got through St. Patty's Day alive and decided to buckle down.) A few reasons: the shortage of product, a very aggressive leasing market, and out-of-state buyers back in full force, helping bump up prices.
Pictured: 1400 Corporate. The duo, which recently made the move to Younger from Marcus & Millichap, will be starting the investment services division and focus on office and industrial deals up to $20M. They also closed on a 60k SF warehouse at 3680 Dilido Rd in Dallas, repping a California-based institutional buyer. (Again, sales price was not disclosed... dang those confidentiality clauses.) For the holidays, Dustin is heading back to Kansas for some family time and (hopefully) plenty of hunting. The Kansas grad tells us he's forgotten what a bowl game is, but he's got basketball season starting. Zane will be sticking around Dallas to enjoy time with his family and play with his two-year-old son, Henry.