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Signage Opportunity in a Premier Location along the Dallas North Tollway
DALLAS, August 20, 2013 — It has been fewer than 30 days since Brookwood Financial Partners purchased Interchange Office Center (IOC), and the real estate investment and asset management firm has already awarded the exclusive leasing assignment of the property to Jones Lang LaSalle. The IOC is a 150,596-square-foot, multi-tenant, Class-A office building located 16 miles north of downtown Dallas, at the intersection of the Dallas North Tollway and the George Bush Turnpike. The three-story building was renovated in 2007 and IOC was awarded an Energy Star label in 2010. The IOC features a state-of-the-art fitness center, 80-person training and conference center, 24/7 security system, on-site management, canopy covered parking and signage opportunities. It is located 20 minutes from DFW International Airport and within proximity to several hotels and restaurants. JLL Senior Vice President Jay Bailey and Associate Clint Coe will oversee all leasing and marketing efforts on behalf of the landlord. Bailey previously leased the IOC on behalf of CBREI from 2008-2011. During that time he negotiated space for several key tenants including Valtech, Kaye Bassman, Aircom and Disys.“We plan to build upon the momentum of the new ownership and relationships with IOC’s current tenants and to make an impact at the building,” said Bailey.According to JLL research, the Far North Dallas submarket has consistently recorded healthy positive net absorption over the past several quarters and is one of the fastest recovering submarkets in the Metroplex. The vacancy rate at the end of the second quarter of 2013 was 16.8 percent, significantly lower than Dallas’ total vacancy rate, which was 20.9 percent.About Brookwood Financial Partners Brookwood is a Massachusetts-based private equity firm that acquires real estate and invests in private companies. Since 1993, Brookwood has acquired 123 properties totaling over 11 million square feet of office, retail, flex and research & development space as well as 143 hotel rooms, 138 condominium units, 572 apartment units and 1,360 residential building lots. Brookwood has acquired real estate throughout the United States including in Arizona, California, Colorado, Florida, Georgia, Maine, Maryland, Massachusetts, New Jersey, North Carolina, Rhode Island, Texas and Virginia. In addition, Brookwood has invested in private companies in the wireless communications, restaurant, software and outsourcing industries. Brookwood has invested over $529 million in equity to acquire assets with a realized and unrealized value of over $1.4 billion.
About Jones Lang LaSalleJones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management. For further information, visit www.jll.com.
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