SkyWalker Property Partners has just closed the sale of three office properties spaced across North Texas and Oklhahoma.
Arlington-based real estate firm
The portfolio includes the 119,000 square foot Brookhollow Riverside building at 2505 N. TX 360 in Grand Prairie; Crescent Parc, a 61-unit, 64,000 square foot medical and office condominium project located at 1400 N. Coit Road in Far North Dallas; and the 36,500 square foot Miller-Motte College at 3801 South Sheridan Road in Tulsa.
The sales prices weren’t disclosed, and they are not part of a single portfolio.
Brookhollow Riverside is leased at a value of about $21 per square foot. The condo units at Crescent Parc are offered at $543,000 to about $1.16 million per unit. And the Miller-Motte College was last appraised at a value of around $233,000.
The 8-story Class A Brookhollow Riverside office building, constructed in 1985, is the standout sits on 3.3-acres with front-facing freeway access to Highway 360 and ease of access to DFW International Airport. SkyWalker has owned it since 2006 and was 90 percent occupied at the time they bought it.
Houston-based Silver Creek Realty Advisors acquired the building in a 1031 exchange buyer.
The 5.83-acre Crescent Parc was built in 2022 and has 14 buildings comprising Class A professional medical suites.
The office condo units were last assessed at a value of $543,200 to $1,167,880 per unit. A second phase is expected to begin construction in late 2023.
The Miller-Motte College in Tulsa was taken to auction by SkyWalker and has been part of the firm’s Cash Flow Fever fund since 2019. Developed in 1982 and set on 2 acres, Houston-based Exponentially Inc. bought the Class C asset.
The decision to auction the properties was a strategic one to encourage as broad an audience as possible, Welder said.
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