DALLAS—HFF has closed the sale of 2626 Cole, a 120,599-square-foot, Class A office building in Dallas' Uptown/Turtle Creek submarket on behalf of an institutional advisor for an undisclosed amount. HFF also worked on behalf of the buyer, Florida-based Beacon Investment Properties, to arrange a $14.5 million acquisition loan through Morgan Stanley Mortgage Capital, Inc.
The property is situated on 1.44 acres along Cole Avenue in Uptown Dallas, east of Cedar Springs Road. The nine-story, Class A property is 96 percent leased to tenants such as Leadership Network, Neopolitan, TPF Gas and Red Car.
Beacon Investment Properties, LLC is a Florida-based real estate investment manager and operator concentrating primarily on core-plus and value-add office properties in large MSAs in Texas and the eastern seaboard of the United States. Beacon has six million square feet under management and has sponsored five close-end investment funds, as well as separate accounts with life insurance companies.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
