A North Dallas high-rise has changed hands.
And the new owner is adding to its investment in the area.
The 20-story Premier Place office tower on North Central Expressway near Mockingbird Lane is next door to the popular Mockingbird Station development. It’s just east of SMU.
The 458,000-square-foot, green-glass building has been owned by CBRE Global Investors since 2013.
Now the high-profile property has sold to a partnership that includes Chicago-based investor GlenStar Properties.
GlenStar is the same firm that just redeveloped the nearby Energy Square office campus, which has almost 1 million square feet of space at North Central and University Boulevard.
CBRE made upgrades to Premier Place after buying the 1980s tower. But don’t be surprised if GlenStar invests in more improvements.
Premier Place is connected to Mockingbird Station by a pedestrian bridge. And the office tower has a large fitness center on top of the parking garage.
The building is more than 90% leased to tenants including AmWins, Merrill Lynch, Mill Creek Residential and Goodnight Midstream.
JLL’s Andrew Levy, Todd Savage, Chris Murphy and Parker McCormack marketed the building for sale.
Premier Place is next to DART’s Mockingbird/SMU rail station.
And it’s across the street from a site where another Chicago firm — Convexity Properties — is building a 20-story residential tower and 90,000 square feet of retail space in a mixed-use project called Eastline.
GlenStar Properties also recently purchased the Solana office campus in Westlake and is planning renovations.
