LOS ANGELES – June 29, 2017 – A fund advised by CBRE Global Investors has acquired 8750 NCX, a well-located 508,102 square foot Class A office tower in Dallas that is 91 percent leased to a diverse group of high-quality tenants.
The property is located on the corner of North Central Expressway and Northwest Highway in the Central Expressway submarket, which has recently become highly amenitized, offering convenient access to the DART as well as extensive high-end retail and restaurant amenities. The location’s walkability to these amenities and proximity to executive housing make the property especially appealing to office users.
The 20-floor asset features an onsite fitness center, conference center and café. The team will invest additional capital to implement its signature 5-Star Worldwide service and amenity program as well as to further enhance building mechanics and cosmetics.
Dallas, which ranks among the nation’s best-performing metros, is a priority focus market for CBRE Global Investors.
“The Dallas market has seen a number of corporations relocate there in recent years, driven by relatively low living and business costs, as well as strong access to talented labor,” said Vance Maddocks, CIO Americas, CBRE Global Investors.
About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $86.5 billion in assets under management* as of March 31, 2017. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment firm for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in more than 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors' presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.