Addison, TX

Investment Partner
Grander Capital Partners

Project Type
Office

Acquisition Date
2016

Project Overview

Emerald Plaza is a 74,182-square-foot, multi-tenanted office building at 14900 Landmark Boulevard in Addison, TX, a suburb of Dallas. The six-story property features an efficient and elegant building design and a two-level parking garage directly beneath the office tower. The well-located building is northwest of the convergence of Dallas’ most significant thoroughfares – the Dallas North Tollway and LBJ Freeway.

We liked the property’s infill nature and the location, and we felt the Addison-Quorum submarket would continue to benefit from tenants seeking a more economical alternative to Dallas, while still offering a central location and strong retail amenity base.

The strategy was to maintain the strong in-place cash flow, as the property was 85% leased when Alta acquired it, and potentially add value through lease-up.