August 31, 2016
Less than three months after coming to the market, office building 17Seventeen McKinney in Dallas’ Uptown submarket is under contract for $188 million, which equates to $510 per square foot. Granite Properties, developer of the 369,000-square-foot building, is the seller, with Gaedeke Group contracted to buy the property.
The six-year-old high-rise is 98% occupied to tenants including Bain & Co., Colliers International, Regions Bank and Bain & Co. HFF has been marketing the asset on behalf of the seller.
If the transaction closes, it will represent the highest price for a Dallas-area sale. Another uptown building, 2000 McKinney Tower, sold for an estimated $502 per square foot to a German investor.
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