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Private Sector Office Investors Are Looking to Buy


In the current COVID climate, Colliers’ Cody Payne says private sector investors are still active and looking to buy, adding that low interest rates have activated many investors from a wide variety of areas.


DALLAS—White Rock Tower, a class-B office building, recently sold to a private capital investor for an undisclosed price. The seller was also a private investor.

“This building is a very heavy tenant-based building, more than most for the square footage with over 70 suites in the building, so very management intensive,” Cody Payne, senior vice president, capital markets group of Colliers International, tells “We generated over 10 offers on the building and had it under contract very quickly.”

The tower was completed in 1981 and features a total of 72,551 square feet. The six-story glass office building has undergone numerous renovations during the past five years including new finishes in the lobby and updated elevators. It features an executive suite component, reserved covered parking and 24-hour key card access, eight camera surveillance system, and on-site security with three security patrols each evening.

White Rock Tower is located at 6510 Abrams Rd. in the White Rock submarket and Vickery Meadow neighborhood. The asset is situated off Northwest Highway and Skillman Road with proximity to Lakewood, White Rock Lake, Lake Highlands and University Park neighborhoods, east of Central expressway, north of Northwest Highway and south of the Abrams-Skillman intersection.

In the current COVID climate, Payne says there is notable activity from investors.

“The private sector is still active and looking to buy. With interest rates being low, this has activated certain investors from all over to look at buying,” Payne tells “The hurdle that some face is finding a bank that has the time to lend because so many are covered up with SBA loans, but we know of several local banks that are still able to make these loans for investment buildings. Many owners have pulled listings off the market for the time being which has created an inventory shortage in the marketplace and so our biggest hurdle is finding good accessible inventory.”

He says while rent relief is a hot topic, in reality, it has not been as much of a factor in at least two sectors of the DFW market.

“Many owners that we talked to out here are working with some tenants on rent relief but it’s not as bad as many people think, especially in the office/industrial sector,” Payne tells

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Cody Payne

Senior Vice President

Fort Worth

Cody Payne is Senior Vice President at Colliers International in Fort Worth, Texas and specializes in selling Office and Industrial investment properties in the Dallas/Fort Worth market. Over the past 12 years, Cody has closed more than 500 commercial real estate transactions. Combined with Colliers International Platform and Cody’s extensive knowledge and expertise of leasing, management, market conditions and business, The Payne Office & Industrial Team provides their clients and investors the opportunity to maximize value while creating a competitive advantage that yields the best results.

Prior to joining Colliers International, Cody worked at Marcus & Millichap and Sperry Van Ness/Dunn Commercial for over 10 years, where he specialized in Office and Industrial investment sales, management and leasing. While there, Cody had a very successful and prominent leasing team of highly experienced and transactional agents. Through Cody’s leadership and direction, the team grew the company’s portfolio to actively leasing over 40 buildings. Cody has extensive experience in the Office and Industrial leasing sector having worked with many major companies from Local/Regional to Fortune 500 companies and GSA leases.

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Michael Tran

Senior Associate

Fort Worth

Michael Tran is a Senior Associate in the Capital Markets Group for Colliers International Dallas-Fort Worth where he specializes in acquisitions and dispositions of Triple Net, Office, and Industrial real estate properties in Dallas-Fort Worth and all throughout Texas.    

Prior to joining Colliers International, Michael Tran leased over 50 real estate properties throughout Dallas-Fort Worth. His knowledge base in leasing and managing properties sets him apart from many agents by knowing and understanding what it takes to successfully operate and add true value to investment buildings. During his four years of leasing and managing, Michael generated over $94 million in real estate value for his clients in Texas. Michael and Team have closed over 850+ Investment transactions  making the team the most active office & industrial investment team in the DFW area. 

Michael Tran brings a unique skill set  having leased and managed office, industrial and retail real estate buildings for years prior to joining Colliers International. Michael specializes in office and industrial  real estate investments. He understands the complex nature of these assets and what it takes to lease and manage on a day-to-day basis providing his clients with practical experience, market leading information, and advisory services. Michael has been nominated as one of Dallas-Fort Worth top commercial brokers during his time in the industry.

Michael Tran has always been a very hard worker and competitive individual, playing competitive tennis. He graduated from University of North Texas with a degree in International Studies and a minor in Mandarin Chinese. 

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