Entrada Partners Buys 500K SF Office, Industrial Portfolio In DFW
Los Angeles-based Entrada Partners purchased a seven-building, 509K SF office and industrial portfolio in Dallas-Fort Worth.
Six of the buildings are office assets:
- Counterpoint at Las Colinas at 8101 and 8113 Ridgepoint Drive in Irving.
- Sterling Tech Center at 7801, 7803 and 7805 Mesquite Bend Drive in Coppell.
- Dallas Tech Center at 10005, 10015, 10025 and 10105 West Technology Blvd. in Dallas.
- Westwood Business Park III at 1805 Royal Lane in Dallas.
- Valwood XII at 13701 Hutton Drive in Farmers Branch.
- International Corporate Park II at 401, 403, 405, 407 and 409 International Blvd. in Richardson.
The one industrial property is also in Richardson at International Corporate Park III at 900 Alpha Drive and 500 Industrial Drive.
Entrada is snapping up value-add industrial, flex and office properties in DFW, Austin and San Antonio. In DFW, Entrada also owns Irving Business Center, Midway Business Park and Centerport Business Center.
An HFF team led by Director De’On Collins represented Entrada Partners to place a three-year, floating-rate, non-recourse loan with two one-year extension options with Bank of America Merrill Lynch. The loan will be used to purchase the portfolio and perform capital improvements.
The Dallas flex market is the largest market in the U.S. by rentable square feet at 133M SF and remains nearly 94% occupied.
