Abrams Centre acquired for $61 a square foot

Buyer intends to resell to affiliated entity

GERA Abrams Centre LLC, a wholly owned subsidiary of Grubb & Ellis Co., recently purchased a 326,000-square-foot office building in Dallas, Texas, for $20 million. Abrams Office Center Ltd., a Texas limited partnership, was the seller. The subsidiary's current intention is to hold the property for future sale to Grubb & Ellis Realty Advisors Inc., according to a press statement, although no sales arrangement currently exists. ...