Opportunity REIT I Buys Back-Office Complex

FORT WORTH-Citing location, tenant quality and lease terms as chief dealmakers, Dallas-based Behringer Harvard Real Estate Investments has pocketed the deed to the 134,246-sf CentrePort Office Center for its Opportunity REIT I fund. The two-building asset is triple-net leased long term to Dean Foods Co. and Radiant Systems Inc.

“The pricing was right,” Jason Mattox, executive vice president for Behringer Harvard, tells GlobeSt.com. And though he can’t discuss the sale price, he did say the acquisition cost fell below the federal reporting level. The asset is assessed at roughly $77 per sf, driving local sources to believe the deal closed in the neighborhood of $90 per sf due to underlying dynamics.