Houston-based M-M Properties and Dallas-based Invesco Real Estate have acquired Plaza of the Americas, a 1.2 million-square-foot complex in the northeastern quadrant of Dallas' central business district (CBD).
Plaza of the Americas was developed in 1980 and consists of two 25-story office towers, a 12-story parking garage and a separately owned Marriott Hotel connected by a 13-story atrium that contains more than 140,000 square feet of retail and restaurants. The property is located adjacent to the Dallas Arts District and the Pearl Street light rail station.
The Dallas office of HFF exclusively represented the seller in the sale of the property and also acted on behalf of the purchaser in placing acquisition financing on the transaction. Peloton Commercial Real Estate has been retained as the exclusive leasing agent for the property, with property management services provided by M-M Properties.
‘We are pleased to acquire Plaza of the Americas,’ says Ken Moczulski, CEO of M-M Properties. ‘We believe Dallas' CBD is turning the corner with the recent additions to the Arts District and the soon to be completed Woodall Rogers Deck Park. Pearl Street is one of Dallas' premier addresses and with strong local ownership in place and plans to renovate, reposition and rebrand the property Plaza of the Americas will offer tremendous value to our tenants.’
(Photo courtesy Dfwcre8tive)