In one of the largest single acquisitions in its 21-year history, Houston-based Boxer Property added the 11-building, 817,000-square-foot Centre Office Park to its Dallas-area holdings.
The 50-acre suburban office campus is located at the corner of Alpha and Midway roads off the LBJ Freeway west of the Galleria Dallas complex in Farmers Branch, TX. According to Boxer Property Director of Acquisitions Andre Pereira, the purchase brings Boxer’s Dallas office portfolio to more than 50 buildings totaling nearly six million square feet.
The 11 office buildings bought by Boxer include: 4000, 4001, 4020, 4040, 4099 and 4100 McEwen Rd.; 4141 Blue Lake Circle; 4100 Alpha Rd.; 13465 Midway Rd.; and 4000 S. McEwn Rd.
"The Centre offered us the opportunity to expand our Dallas presence with a portfolio of buildings we know we can be successful with, especially since the LBJ Express Project seems to be ahead of schedule," said Pereira.
He added the campus offers the potential redevelopment opportunities, given the sizable amount of land included in the sale. Boxer is currently reviewing those options with an eye towards introducing other property types to possibly create more of a mixed-use environment. In addition, Boxer is moving forward on plans to incorporate its coworking Workstyle shared office program into some of the available office space.
Other Boxer Property buildings in the Farmers Branch area include 4100 Spring Valley, which it acquired last October, and 2727 LBJ.
Mike McDonald and Kennedy Hicks of Eastdil Secured's Atlanta office marketed the office property on behalf of the seller, Ivanhoe Cambridge. Boxer Property's acquisition team of Pereira and David Kayle handled the sale for the buyer.
The privately held Boxer Property Management Corp. was founded in Houston in 1992. The firm manages, leases and administers retail, medical and office properties totaling 18 million square feet nationwide.
Please refer to CoStar Comp ID #2925872 for additional details on this transaction.