Lone Star Funds bought Premier Place, a 458,000-square-foot tower at 5910 N. Central Expressway. Glenstar Properties was the seller. A JLL team led by Jonathan Napper brokered the sale.
The tower is about 94% leased. The Dallas Business Journal reports the Dallas Central Appraisal District assesses the value of the land and building at $100.5 million for tax purposes.
Glenstar will remain the property manager for the tower. CBRE will handle leasing for Premier Place.
Glenstar purchased Premier Place in 2019 in what was one of the most expensive office deals of that year, estimated at nearly $140 million. Real estate sources at the time estimated the property sold for $313 per square foot.
Glenstar spent $15 million on updates to the building, which was delivered in 1985 by Rosewood Properties.
The post Glenstar Properties Trades 20-Story Premier Place appeared first on Connect CRE.
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