KBS Realty Advisors has purchased a 13-story, 351,872-square-foot class A office building in Dallas from Fortis.
The purchase price was not disclosed.
The property, International Plaza Tower III, is located at 14241 Dallas Parkway.
The property was 72 percent occupied at the time of purchase. Major tenants include IMAC, Duke Realty, Wells Fargo Foothill, KBA Group and Arthur J. Gallagher & Co.
International Plaza Tower III is part of the three-building, 1.1-million-square-foot International Plaza office development, located along the Dallas North Tollway, north of Spring Valley Road, in Dallas’ Galleria area.
Completed in 2002, International Plaza Tower III has 27,000-square-foot floor plates, an on-site café, fitness center, conference center and 24/7 security. The property shares a parking garage with International Plaza Tower II. The garage is not part of the KBS acquisition.
With the acquisition of International Plaza Tower III, the KBS Realty Advisors portfolio in the Dallas/Fort Worth area now totals 2.5 million square feet and the portfolio of KBS REIT, an affiliated company, totals 439,078 square feet.
***
What’s your opinion? Leave your comments below or send a
letter to the editor.
