California-based investment firm Stanton Road Capital has acquired Esters 114 Business Center, a 176,700-square-foot office complex in Irving’s Las Colinas District. The two-building property was 91 percent leased at the time of sale. Chris Murphy, Robert Hill, Gary Carr and John Alvarado of Newmark represented the undisclosed seller in the transaction. Cushman & Wakefield will handle leasing of the property for the new ownership.
Parallel Capital Partners has signed two new tenants at Urban Towers, a Class A office property in Irving, Texas. Valued at $17 million, the deal includes a 45,228-square-foot lease with shipping company The Pasha Group and a 9,652-square-foot lease with Maxitransfers Corp., a private holding firm. In addition, the landlord also renewed a 3,114-square-foot lease contract with local software company Motivity Labs.
El Segundo, California-based Stanton Road Capital has added to its local portfolio with the purchase of Esters 114 Business Center in Irving, according to a press release.
A San Antonio-based investment group has acquired the 65,460-square foot Story Business Center in an off-market transaction, using 1031 Exchange funds to snap up its second industrial flex property in the Las Colinas submarket.
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