11/19/2007

Dallas' Spectrum Center on the market, expected to bring $100M

by

Spectrum Center

Crescent Real Estate Equities, LP has placed the Spectrum Center in the Dallas suburb of Addison, Texas on the market.

Andrew Levy, Todd Savage, Elizabeth Malone and Kelsey Roop of Holliday Fenoglio Fowler have been hired to market the office buildings.

Although the property is being marketed without an asking price, market sources expect the buildings to bring between $100 and $105 million, or $170 to $175 per square foot.

The two, 12-story buildings are currently 91 percent occupied to tenants such as Concentra Managed Care, Wachovia Bank, UBS and North America, Inc. Built in 1983, the buildings are located at 5080 Spectrum Drive.

Addison is located approximately 16 miles north of Dallas and has a population of roughly 15,000.

Address: 5080 Spectrum Drive, Addison, Texas

Size: 598,250 square feet

Built: 1983

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Filed Under: Office

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