Millennium Tower purchased

San Francisco-based RREEF North America recently sold the 353,461-square-foot Millennium Tower in Dallas, Texas, to a real estate investment trust for an undisclosed price.

KBS REIT's acquisition of the 14-story, class A office building bring the REIT's Dallas/Fort Worth portfolio to 792,539 square feet. The property includes 3.34 acres and a six-level parking garage with a parking ratio of 3.7 per 1,000 square feet. It also has an on-site café, bank and property management office.

At the time of purchase, the property was 87 percent leased to tenants that included Dresser Inc., SAS Institute, UnumProvident Corp. and HBO Time Warner.

***

What's your opinion? Leave your comments below or send a letter to the editor.

All rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.