Dallas UNC LLC ended its nine-year hold on University Centre at 1701 and 1801 Gateway Blvd. in Richardson, TX. The Amarillo investor sold the asset to joint-venture Symphony Gateway LLC and CIG Retail Properties Inc. The 59,792-square-foot, Class B, suburban Dallas office complex sold for an undisclosed amount. The Dallas Central Appraisal District assessed the property at $3.4 million.
John Bowles, Bruce Butler and Susan Gwin Burks of Colliers International represented the seller in the transaction. The two-building, one-story complex, located in Richardson’s “Telecom Corridor,” near U.S. 75, was 90% occupied at the time of the sale. The majority of the tenant base consists of professional service firms.