Colliers International Arranges Sale for 458,338 SF Office Building in DFW
Colliers International announces the sale of Allstate’s Irving campus, comprised of three office buildings totaling 458,338 square feet. The buildings are located at 8701-8711 & 8675 Freeport Parkway and 8901 Esters Boulevard in Irving, Texas. Cole Real Estate Investments purchased the property from the Allstate Insurance Company in a sale-leaseback transaction, one of the largest sale-leasebacks in DFW since the 2008 market downturn.
Creighton Stark and Ben Lurie with the Capital Markets Group of Colliers Dallas, along with Bill Fausone, President of Colliers Chicago, represented the seller. The buyer did not have a representative.
“Cole Real Estate Investments purchased the Allstate campus not only because of the high quality of the property and its central DFW location,” said Ben Lurie, “but also because of the tenant’s long-term lease and outstanding credit.” Allstate has committed to a new, long-term lease at its Irving campus as part of the transaction.
“This transaction reflects the strength of Colliers’ Capital Markets platform,” said Creighton Stark. “We leveraged our national relationships to find a highly qualified buyer and exceeded our Seller’s expectations.”
About Colliers International
Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.
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