CBRE Brokers Sale of Vacant North Central Bldg.By
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Glasscock: “We marketed the property to both adaptive reuse investors and potential hospitality users, as the zoning would accommodate hotel development.”
DALLAS–CBRE Capital Markets’ Investment Properties has brokered the sale of a vacant, 24,000-square-foot office building in Dallas.
Avial Hotels, a subsidiary of Blue Star Hospitality, purchased the building from Decker Development for an undisclosed price, and plans to redevelop the site for a national-brand hotel.
David Glasscock, with CBRE’s Dallas office, represented the seller and Ryan Patterson, with Texas Hotel Brokers, represented the buyer.
“There was competitive interest from the hospitality development community,” Glasscock told GlobeSt.com. “It became apparent several hotel flags were looking for a site on North Central Expressway. After a structured bid process, the seller weighed the experience of the operator and the timing to close the transaction in determining the winning bidder.”…
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