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Greyhound building in Far North Dallas sold 2:05 PM CT
02:06 PM CDT on Thursday, August 21, 2008
An Addison investor has purchased a Far North Dallas office building.
The six-story Greyhound building at the northeast corner of Belt Line Road and the Dallas North Parkway was sold by a California investment group to Shoal Creek No. 2 L.C. of Addison.
The 93,087-square-foot building was constructed in 1982 and is fully leased to Greyhound.
“The Greyhound Building’s Class A location and guaranteed income stream through 2012 allowed us to generate tremendous interest in the property with more than 20 offers,” Ron Hebert, a senior associate and director of real estate broker Marcus & Millichap Real Estate Investment Services said in an announcement of the sale.
Greyhound has vacated the building but is still leasing the property. The new owners plan to wait for office demand in the area to improve, Mr. Hebert said.
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