L.A. investor acquires Texas office tower

Property taken at below replacement cost

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Los Angeles-based real estate investment firm The Mindlin Cos. LLC has acquired the 195,587-square-foot Woodview Office Tower in Dallas, Texas, for an undisclosed price. Built in 1982 and later renovated in 1997, the 13-story class A office building, clad in reflective glass, is located at 1349 Empire Central in the Stemmons Freeway submarket. TA Realty sold the property at 48 percent occupancy. The buyer plans on undertaking a comprehensive upgrade to building systems and aggressively leasing and managing the property. "We are hot on Dallas in general and in the Stemmons submarket specifically. We saw a great opportunity to acquire a class A office building at approximately one third of replacement cost," says The Mindlin Cos. Principal Bradley Mindlin. ...