Texas office building sells at $17.7M

Major financial services company anchors site

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CB Richard Ellis Realty Trust recently announced its purchase of Lakeside Office Center in Lewisville, Texas, for $17.7 million. An unidentified entity sold the 98,750-square-foot office building, which is located at 2850 Lake Vista Drive. Completed in August 2006, the pre-cast and steel facility is situated within Lewisville's master-planned Vista Ridge Business Park. The building offers 32,916-square-foot floor plates with 10-foot ceilings and a parking ratio of 5.37 per 1,000 square feet of rentable area. At the time of sale, the property was 96 percent leased, with anchor tenant TIAA-CREF occupying 68 percent of the building. *** What's your opinion? Leave your comments below or send a letter to the editor. ...