Digital Realty Trust, a REIT, completed its acquisition of The DataBank Building in Dallas last quarter from Freeman Group for $75 million or $278 per square foot, according to public record.
The eight-story, 269,600-square-foot, Class B office building
at 400 S. Akard St. was built in 1920 and is in the CBD submarket. The property is used as a data center and was approximately 85 percent leased at the time of sale. The historic landmark formerly housed the Federal Reserve Bank of Dallas.
Todd Savage of HFF represented Freeman Group.
Please refer to CoStar COMPS #2495980 for more information on this transaction.