July 28, 2016
Hines and Estein & Associates USA Ltd. have closed on the sale of One Victory Park in Dallas to Clarion Partners. The sales price on the 436,253-square-foot property was not disclosed, though area reports estimate the Class A office building could have sold for upwards of $400 per square foot.
The building at 2323 Victory Ave. was developed by Hines and its German partner Estein. It is an office anchor within the 75-acre, mixed-use Victory Park development. HFF brokered the transaction, and Hines will continue managing the property for the new owner.
Said Hines managing director Drew Steffen: “We have enjoyed executing our investment strategy for this property. Although we’re very proud of the building we developed, we decided that this was a good time to sell the asset.”
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