Skip to main content Skip to footer

Colliers Facilitates Sale of 11-Story High-Rise Office Tower in Far North Dallas

alt=""

Office Tower Represents Suburban Stability

Colliers International’s Capital Markets Team of Creighton Stark and Chris Boyd announced it has facilitated the sale of 7920 Belt Line Road, an 11-story multi-tenant office tower located at the southwest corner of Belt Line Road and Coit Road in Dallas. The 190,830 square-foot building was sold by Pillar Commercial and Blue Vista Capital Management to Uhalt Investments for an undisclosed amount. The sale included an adjacent medical pad site for potential future development.

 

“We have owned 7920 Belt Line since 2007 through a series of different joint venture partnerships”, said Manny Ybarra, Founder and CEO of Pillar Commercial.  “The tenant roster is made up of exceptional businesses and we are confident that Uhalt Investments will have much success with this asset.”

 

Built in 1983 with approximately $2.3MM of recent cosmetic and mechanical upgrades, 7920 Belt Line features a prominent North Dallas location, ample structured and surface parking, on-site security and management and conference center.

 

“We are thrilled with this acquisition and expect it to be the first of over one million square feet of office in DFW over the next couple years,” said Hugh Uhalt of Uhalt Investments. “We will be providing a higher level of service to our tenants while offering strong economies. In addition, Entronix, our energy management company, will significantly reduce operating costs, and act as a catalyst for significant savings to our tenants.” 

 

The tower’s strategic location is just minutes away from North Central Expressway and other highway thoroughfares including I-635, Dallas North Tollway, and the President George Bush Turnpike.

 

“7920 Belt Line represents a well-positioned and institutionally-maintained multi-tenant office tower, surrounded by numerous walkable restaurants and retail options,” said Creighton Stark, Executive Vice President with Colliers International. “Ninety percent occupied at the time of sale, the tower represents a diverse and long-tenured tenant roster, anchored by medical, insurance and financial services firms. Suburban Dallas office has responded positively to the pandemic, compared to comparable metro areas across the U.S., with the highest “back to work” employee statistics.”

 

Chris Boyd, Senior Vice President with Colliers International added, “This is another example of suburban Dallas office strength, reflecting strong historical occupancy and cash flow, located near positive demographics and poised for continued success going forward.”

 

Read Article at The Dallas Morning News

Read More Dallas-Fort Worth Articles 


Related Experts

Creighton Stark

Executive Vice President

Dallas

Creighton Stark is an executive vice president with the Capital Markets group of North Texas. With more than 22 years of experience in commercial real estate, Creighton oversees the institutional investment sales and re-capitalization of office properties.

Creighton has the reputation as a leading investment advisor, with extensive experience in almost every aspect of office capital markets. He has well-established working relationships with several major institutional clients including New York Life, Lincoln Financial Group, UBS, TriGate Capital, Angelo Gordon, CrossHarbor Capital and many others.

View expert

Chris Boyd

Senior Vice President

Dallas

Chris provides a unique and powerful perspective to the Capital Markets advisory team given his ownership perspective of investments and acquisitions of 20 plus years, by working extensively on institutional and private equity transactions in the Dallas-Fort Worth commercial real estate market, as well other major markets such as Chicago, Houston, San Antonio and Austin. Prior to joining Colliers in 2016, he was the Director of Acquisitions for a capital investment firm, and during his career, has acquired, overseen or advised on $3.5 Billion of nationwide investment properties. Chris has handled institutional portfolios with an estimated worth of $100 million to $500 million including all major commercial property types including office, industrial, hotel and hospitality properties and distressed debt in conjunction with principals, equity and debt capital partners.

Chris provides an institutional foundation, private equity/entrepreneurial experience, deep local market knowledge, and a true ownership perspective to clients’ acquisition, asset management and disposition objectives. His previous roles with Cawley Partners, UBS, Behringer, First Industrial Realty Trust, investment startups and Joint Venture sponsors, plus their respective debt and equity partners, are utilized for optimal client business plan executions.

View expert