October 11, 2017
Albany Road Real Estate Partners, headquartered in Boston, MA, made its first Dallas-area purchase, acquiring the 168,189-square-foot Hillcrest Tower in the North Dallas submarket. The price for the office building at 12720 Hillcrest Rd. was undisclosed. Eric Mackey, Gary Carr, John Alvarado, Evan Stone, Jared Chua and Robert Hill represented the seller, Champion Partners, which is based in Dallas.
“Hillcrest Tower presented investors with the opportunity to acquire a recently renovated, stabilized asset along the resurging LBJ corridor,” Mackey said. Champion Partners acquired the building in 2013, when construction was underway on nearby LBJ Freeway. The owner-turned-seller spruced up, leased up and rebranded the early 1980s building.
Hillcrest Tower is more than 90% leased to a diverse group of professional services companies, including law and financial consulting firms. On-site amenities include a full-service deli, conference room and tenant suites with private balconies.
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