International Capital Buys Dallas Office Building

DALLAS-International Capital Inc., a liaison for German investors and US properties, has acquired a 100%-occupied, 75,849-sf office building in Dallas on behalf of a family partnership.

Christiane Hepfer, president of Dallas-based International Capital Inc., tells GlobeSt.com that she managed to secure 10210 N. Central Expressway before it came to market, with talks getting serious in February and running through most of the year’s first three quarters. Lead tenant US Risk Insurance Group, which occupies about 70% of the building, was a prime motivator for the purchase since its lease is good through 2012 and includes expansion options that conceivably could make it the only tenant, Hepfer says.

Alan Mann of Dunhill Partners Inc. of Dallas, one of the principals in the selling partnership, handled its side of the talks. The seller bought the property three years ago from Atlanta-based Triad Properties and undertook a significant rehab. Built in 1981, the office building sits on about 1.5 acres at the southeast corner of North Central Expressway and Blair Street. It has a 2002 assessed value of $5.3 million, according to the Dallas Central Appraisal District.