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Gladstone Expands Texas Footprint

ALLEN, TX-The Virginia-based REIT acquires the 115,000-square-foot Allen Office Center from an entity of Dallas-based Hudson Advisors just days after buying the 320,000-square-foot General Motors technology center in Austin.

By Amy Wolff Sorter | Updated on July 18, 2013

ALLEN, TX-Days after acquiring the 320,000-square-foot General Motors Technology Center in Austin, Gladstone Commercial Corp. closed on the 115,200-square-foot Allen Office Center in the far north Dallas suburb of Allen, TX. The Virginia-based REIT paid just over $15 million for the 100% leased asset.

The seller of the asset at 808 S. Central Expwy. (US 75) was listed as LSREF2 Windmill REO LLC, an entity of Hudson Advisors LLC, based in Dallas. Seller brokers Eric Mackey, Gary Carr, John Alvarado and Robert Hill of CBRE were unable to say much about the transaction due to confidentiality agreements. They did, however, tell GlobeSt.com that the building was not a distressed asset and is 100% occupied.

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