IRVING, TX-Colliers International has sold Allstate's Irving campus, comprised of three office buildings totaling 458,338 square feet. The buildings are located at 8701-8711 & 8675 Freeport Parkway and 8901 Esters Boulevard. Cole Real Estate Investments purchased the property from the Allstate Insurance Company in a sale-leaseback transaction, one of the largest sale-leasebacks in DFW since the 2008 market downturn.
Creighton Stark and Ben Lurie with the Capital Markets Group of Colliers Dallas, along with Bill Fausone, president of Colliers Chicago, represented the seller. The buyer did not have a representative.
“Cole Real Estate Investments purchased the Allstate campus not only because of the high quality of the property and its central DFW location,” said Lurie, “but also because of the tenant's long-term lease and outstanding credit.” Allstate has committed to a new, long-term lease at its Irving campus as part of the transaction.
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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.
