Real Capital Solutions (RCS) acquired Walnut Glen, an 18-story, 464,289-square-foot class A office building located at 8144 Walnut Hill Lane along North Central Expressway in Dallas. The asset sold for $26.1 million. JLL’s Jonathan Napper was the investment sales broker.
Walnut Glen is 74.24% leased.The acquisition price represents a 64.25% discount to the property’s most recent sale of $73 million in 2016, allowing RCS to invest capital into a comprehensive improvement and leasing program aimed at strengthening long-term performance and positioning the property competitively within the Central Expressway corridor. Walnut Glen was built in 1986.
RCS plans to implement improvements to the building’s lobby, fitness center and conference center while introducing move-in-ready office suites to support leasing activity. Cushman & Wakefield has been retained for the leasing and property management of Walnut Glen. Â
The purchase represents RCS’s second office acquisition in Dallas, with the firm acquiring Tower at Park Lane for $66 million last year.
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