Hines REIT has acquired the Chase Tower commercial office building in Dallas from 2200 Ross, LP.
The value of the transaction was not disclosed.
The 55-story, class A office tower is located at 2200 Ross Avenue in the Arts District/Midtown area of Dallas.
The seller was represented by Holliday Fenoglio Fowler in the transaction. Hines is the sponsor of Hines REIT, and is responsible for the management and leasing of its assets.
The 1.3 million-square-foot office tower was designed by Skidmore, Owings & Merrill and was completed in 1987. Parking is provided on six floors beneath the building, as well as in an adjacent 14-story garage.
The property was 92 percent occupied at the time of the transaction. Tenants include JPMorgan Chase, Locke Lord Bissell & Liddell LLP, Deloitte & Touche LLP and Fulbright & Jaworski.
Hines REIT is a Houston-based public real estate investment trust sponsored by Hines.