High Five Office High-rise Sells to Arlington Investor

A high-profile North Dallas office tower has changed hands.The Crosspoint Atrium at 8651 LBJ Freeway building is located right on the High Five at the northwest corner of U.S. Highway 75 and LBJ Freeway.The 227,891-square-foot office building was constructed in 1981 and until recently was the headquarters of Credit Union of Texas.Arlington-based SkyWalker Property Partners purchased the building for an investment fund from the Credit Union of Texas, which is relocating its head office to Allen.The financial firm will keep 110,876 square feet of office space in its former headquarters building.The new owners plan to renovate the building."We will make this the top affordable option, a quality B in a class A submarket," Skywalker Property's Gary Walker said in a statement. "It's a well-located office building with easy freeway access, which bodes well for our tenants' talent recruitment efforts both close-in and cities farther out to the north, east and west."The building was about 50 percent leased at sale. Lunsford Commercial has been hired to lease and manage the property.Walker and Clint Holland of SkyWalker Property Partners handled sale negotiations with Holliday Fenoglio Fowler LP.The sale was seller financed.SkyWalker Property Partners was formed in 2017 to build a $200 million portfolio of office, industrial and retail properties in Texas and surrounding  Continue reading...

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