DALLAS—Miami, Fla.-based Adler Kawa Real Estate Advisors (AKREA) has made its biggest purchase yet. The company has acquired Cardinal Park in Richardson, a 545,000-square-foot class A office and industrial park, located in the city's technology corridor.
"Cardinal Park is a great reflection of AKREA's approach to purchasing cash-flowing properties with stellar tenant rosters located in fastest-growing cities,” Matthew L. Adler, president and CEO of AKREA, told GlobeSt.com. “We're bullish on Dallas -- and Richardson in particular -- for a number of reasons, including the market's favorable demographics and diverse economy, Texas' business-friendly environment and the area's growing technology corridor."
Cardinal Park is currently 88 percent occupied, with a roster of tenants that includes Yahoo!, CVS/Caremark, Inogen, Simplex Grinnell (Tyco) and Anritsu.
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