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Addison Business Park goes to Dallas Investor

Updated: Feb 2

Pillar Commercial adds to D-FW holdings



A Dallas investor has purchased an Addison office and industrial campus.


Pillar Commercial acquired the Addison II business park at 4550 Excel Parkway near Addison Airport.


The 182,154-square-foot project was built in 1996 and is fully leased to tenants including Southern Glazer Wine & Spirits, Assurant Solutions and Arbonne International.


“The quality of Addison II and its strong tenancy were key factors in this acquisition,” Pillar founder Manny Ybarra said in a statement. “In addition, the property’s location is ideal for users seeking a combination of office and production space within a micro-market that currently stands at 94% occupancy.”


The purchase includes an adjacent tract of land.


Pillar acquired Addison II for its Pillar Real Estate Fund I, a Texas-focused investment vehicle. It’s the third acquisition for the fund.


Crossfirst Bank financed the purchase, with Brian Carlton with JLL arranging the debt.


Pillar Commercial manages more than a dozen commercial properties in North Texas including office and industrial buildings.


#Business #RealEstate

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