DALLAS–HFF has closed the sale of four Class A office properties totaling more than 800,000 square feet in Richardson's Galatyn Park. Spear Street Capital purchased the assets for an undisclosed amount.
“We are very excited about working with Spear Street Capital on their newest DFW acquisition," said Chris Taylor, about Cassidy Turley and Russ Johnson of Peloton Commercial Real Estate, Galatyn Park's office leasing team. "We will be bringing to the market a completely renovated Class A office campus that can accommodate tenants requiring their own building of 147,000 square feet to 291,000 square feet, or the ability to secure up to 600,000 square feet, all within a mixed-use campus setting.”
HFF represented the seller, Champion Partners and Long Wharf Real Estate Partners, in the transaction.
The portfolio, a four-building office campus located within the Galatyn Park mixed-use development, features one of the largest available blocks of Class A space in DFW with its current availability of 600,000 square feet of space.
The development also includes a Renaissance hotel, the Eisemann Performing Arts Center, an eight-acre nature preserve, a multihousing development and the Blue Cross Blue Shield headquarters. All of the properties were built between 1997 and 2000.
“With the significant capital Spear Street will be investing into the Galatyn Park Office Portfolio's common areas and on-site amenity package, including a new shuttle service between Galatyn Park and the adjacent CityLine mixed-use development, we will have an office environment that will provide future tenants with the tools they need to uniquely attract and retain their employees,” Taylor said.
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