An Austin real estate investor, Capital Commercial Investments Inc acquires a two-building office complex Gateway Corporate Center which is near to Dallas/Fort Worth International Airport. The 229,000-square-feet office development plan is situated at 1275 Freeport Parkway in Coppell.
Gateway Corporate Center, the office complex was completed in 2008 and is in close proximity to the north-end of Dallas/Forth Worth Airport beside the Interstate 635.
Capital Commercial bought the office complex from the original equity investor for the development of the property, Lincoln Financial Group.
Senior vice president Creighton Stark of Colliers International, who handled the deal and sale said that in less than 45 days they have the contract under negotiation and closed the deal.
However, the terms of the deal were not released.
Stark also said that office complex are unoccupied and its interiors are not finished yet.
The acquired real estate property also includes about 12 adjacent acres. Capital Commercial then hires Grubb & Ellis Co. to lease the office complex.
Chris Wright, senior vice president for Grubb & Ellis said that the property possess strong backings, which can offer its future tenants a more competitive packages.
Capital Commercial owns about 24 real estate properties. The company is known to acquire real estate properties for institutional and individual investors.
Capital Commercial also has more than a few establishments in Las Colinas close to the Gateway Corporate Center.
The Campbell Centre office complex at Northwest Highway and North Central Expressway is the company’s biggest investment in the Dallas-Forth Worth area.