Encore Buys Two Forest Plaza
Encore Enterprises purchased Two Forest Plaza (200k SF tower) at 12201 Merit Dr in Dallas’ Park Central submarket from Parmenter Realty Partners, we learned late Tuesday. Colliers International capital markets group’s Creighton Stark and Jack Minter (surrounding colleague Ben Lurie) repped the seller. Jack says there’s immediate upside for Encore as the rapidly increasing rental rates in Uptown and Preston Center push value-oriented tenants northward toward Park Central, where the tower is located.
The building is 70% occupied with La Madeleine’s corporate offices and New York Life, among others. Parmenter has made cosmetic improvements in the entrance, lobby, and corridors, as well as enhancing the building’s sustainability.