BEVERLY, Mass.--Brookwood Financial Partners LLC, a real estate investment and asset management company, has announced that it has acquired 125 East John Carpenter Freeway and 5100 North O'Connor Boulevard, a two building, multitenant office property located in the Las Colinas submarket of Dallas. The 61.1-percent-occupied property contains 451,195 square feet and is located adjacent to State Highway 114.

“We will be able to offer large prospective tenants an opportunity that cannot be found elsewhere in the market," says Thomas W. Brown, Brookwood's director of acquisitions. "The top six floors of the building provide terrific views from one of the most attractive class A office buildings in the area. The buildings are located very close to Gables Water Street and The Music Factory, two planned retail developments that are primed to break ground.”

The top six floors of 125 East John Carpenter Freeway represent one of the few large blocks of contiguous vacant space in the submarket. Brookwood plans to enhance the property's position in the Las Colinas submarket by investing $3.7 million in targeted capital improvements in the property, in addition to recent improvements made by the seller, which include a major lobby renovation, a new conference room, fitness center and cafe.

“With sufficient capital at our disposal, we will continue to build upon the improvement projects completed by the previous owner. Our plans include upgrading common areas and restrooms, completing elevator modernizations at both buildings and renovating the parking garage, entryways, landscaping and signage,” Brown says. “In addition, given our strong capitalization, we will be able to offer attractive tenant improvement packages and competitive lease rates.”

Rental rates in the Las Colinas submarket have increased 7.6 percent over the previous six quarters, but rates are still 5.4 percent below their pre-recession peak.