San Francisco-based RREEF North America recently sold the 353,461-square-foot Millennium Tower in Dallas, Texas, to a real estate investment trust for an undisclosed price.
KBS REIT’s acquisition of the 14-story, class A office building bring the REIT’s Dallas/Fort Worth portfolio to 792,539 square feet. The property includes 3.34 acres and a six-level parking garage with a parking ratio of 3.7 per 1,000 square feet. It also has an on-site café, bank and property management office.
At the time of purchase, the property was 87 percent leased to tenants that included Dresser Inc., SAS Institute, UnumProvident Corp. and HBO Time Warner.
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