Search
 

Cushman & Wakefield Lease-Sell Strategy Nets $3.7 Mil for 999 Metromedia Place

DALLAS-Playing off the "build it and they will come" philosophy, Cushman & Wakefield has netted $3.7 million for a client. The first step had been to find the right tenant and then, the right buyer.

By Connie Gore | Updated on November 23, 2000

DALLAS-A 69,552-sf, seven-year lease has helped precipitate the $3.7-million sale of 999 Metromedia Place, an award-winning, high-tech redevelopment in Dallas’ Brookhollow area.

“Our biggest challenge of this lease was to find one user with high-tech needs that could use almost 70,000 sf of space,” says Daryl Mullin, a director in the Downtown Dallas office of Cushman & Wakefield of Texas Inc. The new tenants are SkyTV and its SeeItWork.com subsidiary, represented by Swearingen Realty Group, and the new owner is a group of private investors, which had Kennedy-Wilson acted on their behalf.

“As the leasing negotiations entered the ‘very serious’ phase, we began marketing the building to investors with an entrepreneurial vision for properties focused on meeting the needs of high-creative, high-technology tenants,” says Mullin, who led the Cushman & Wakefield team’s efforts.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.