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New Office Building On The Way Near Dallas’ Booming Medical District

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An office project in the works on West Mockingbird Lane will add to the development wave just west of Dallas Love Field.

Developer Cawley Partners plans to build the 150,000-square-foot office building at 2221 W. Mockingbird Lane near Harry Hines Boulevard.The building is in the same area where developers have constructed the West Love mixed-use hotel, apartment and retail complex. It’s near Dallas’ booming medical district.

“We were working on another building in this area but decided to move on this one first,” said developer Bill Cawley. “I have capital investors interested in doing it after we move through the rest of this year.”

Construction on the four-story building would begin early next year.

“I believe this area has so much potential for companies looking to grow in Dallas,” Cawley said. “You are right next to Love Field. It’s easily accessible from Interstate 35E and the Dallas North Tollway. I think we’re going to see this become a more desirable corporate location with new companies looking to move in.”

Dallas architect Corgan designed the office project, which will include food service facilities, a fitness center and a conference center.

Cawley Partners is planning the northwest Dallas building just as it breaks ground for another office in Plano. Cawley Partners is developing that building in partnership with Plano’s pioneer Haggard family for First United Bank’s mortgage company.

The 120,000-square-foot Parkwood building is being constructed on the east side of Dallas North Tollway at Parkwood Boulevard and Windhaven Parkway.

 

Source: The Dallas Morning News

PEBB, Tortoise Properties Acquire Jupiter Medical, Office Building For $31M

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Private real estate investment company PEBB Enterprises and Tortoise Properties, family office focused on acquiring residential and commercial legacy assets, have acquired the Jupiter Innovation Center, a 186,238-square-foot office building in Jupiter.

The sales price was $31.4 million.

Located at 1701 Military Trail, Jupiter Innovation Center is the town’s largest for-lease office building. The single-story campus is just one mile south of the 327-bed Jupiter Medical Center, a 55,000 square foot, state-of-the-art cancer center.

Jupiter Innovation Center has a mix of medical, office and research and development tenants. Florida Turbine Technologies is the largest tenant at JIC with more than 64,000 square feet, and has occupied space at the building since 2005.

Scott O’Donnell, Michael Ciadella, Dominic Montazemi, Greg Miller and Miguel Alcivar of Cushman & Wakefield represented the undisclosed seller in the transaction. Additionally, Jason Hochman of Cushman & Wakefield arranged a $30.5 million loan from Rialto Capital Management as part of the transaction.

 

Source: Connect Media