Dallas' Triwest Plaza Sold

A fund represented by New York-based HighBrook Investment has sold the 17-story high-rise known as Triwest Plaza at 3030 LBJ Expressway in Dallas to Triwest Green LP, a Delaware limited partnership, for an undisclosed sum. In 2006, Centennial Real Estate Corp. of Dallas sold the building to Argus Realty Investors LP for $37.7 million. Terms of the acquisition were undisclosed, though the Delaware company did disclose that they used HFF to secure funding through Wells Fargo.

Built in 1984, the 369,025-square-foot TriWest Plaza building was 75% leased at the time of sale with ClubCorp as a major tenant. ClubCorp signed a long-term lease in 2013 for four floors of the building, or roughly 80,000 square feet of space, to accommodate about 300 of its employees. ClubCorp CEO Eric Affeldt said he was swayed to stay in the building at the time because of the recent acquisition of the building in 2013 by HighBrook Investors, who invested capital into the office building before selling it.

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