August 12, 2016
Dallas-based Crescent Real Estate and partner Long Wharf Real Estate Partners LLC of Boston have struck a deal with KBS Realty to acquire International Plaza III, a 354,182-square-foot, Class A office building in Farmers Branch, TX. The 13-story building at 14241 Dallas Pkwy. was built in 2002. The property is part of the International Plaza office complex, located on the Dallas North Tollway, just north of the Galleria Dallas.
The sales price was not disclosed. The Dallas Central Appraisal District assesses the property at $59 million. Jack Crews with Jones Lang LaSalle brokered the transaction. KBS, headquartered in Newport Beach, CA, had acquired the asset in 2008.
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