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Copaken Brooks Acquires Industrial/Office Flex in Addison, Texas

January 3, 2013

Copaken Brooks today announced that it has purchased two buildings located at 4355 and 4505 Excel Parkway in Addison, Texas (a north Dallas suburb). The Addison Tech Center Portfolio is comprised of two class A, office/industrial flex buildings with approximately 137,200 square feet of combined net rentable area. The center offers convenient access to the North Dallas Tollway, President George Bush Turnpike, I-35, and I-635. The property is 94.3% occupied, and includes tenants such as Schubert USA Leasing, First Industrial Realty Trust, Porter Lighting, Southwest Solutions Group, Authentix, Contemporary Research, and ThyssenKrupp Elevator.

The purchase at Addison Tech Center is the first acquisition by Copaken Brooks’ newly formed investment platform -- Copaken Brooks Private Capital. Darrell Betts of Avison Young’s Houston office represented the seller in the transaction. On-site management and leasing will be handled by Holt Lunsford Commercial, also based in Addison. Joe Platt with Grandbridge Real Estate Capital assisted in arranging a loan with Guggenheim Commercial Real Estate Finance, LLC. “We are very pleased with this acquisition,” says Dana Wolfe, Vice President of Acquisitions for Copaken Brooks. "The location is in the center of Addison in a predominantly commercial environment with excellent access to the North Dallas Tollway and has an outstanding tenant roster. We like the Texas real estate market, and we’ll continue to look for other opportunities there.”

Copaken Brooks CEO Troy Marquis stated, “We are excited to invest in Addison Tech and welcome the many new investors that have elected to join us in this acquisition.”

Founded in 1922, Copaken Brooks is a full service commercial real estate firm based in Kansas City, Missouri. Copaken Brooks specializes in investing, developing, leasing, and managing real estate, with a national brokerage network that represents tenants across the US. The management team at Copaken Brooks has over 125 years of combined experience in real estate investment and development.

Copaken Brooks Private Capital I, LLC (CBPC) is a newly developed real estate acquisition and investment platform that capitalizes on the commercial real estate expertise of Copaken Brooks and relationships within target markets in the Central United States. CBPC seeks well-located properties with in-place income streams that have an opportunity to appreciate over the hold period. In addition, CBPC will entertain redeveloping, recapitalizing, and repositioning broken developments.

For more information about Copaken Brooks Private Capital I, please contact Troy Marquis at 816.701.5000.

Additional Information

Contact:
Becca Andersen
Marketing Communications

816.701.5000

 

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