January 3, 2013

REalta Group Secures Disposition of Texas Asset

Copaken Brooks today announced that it has purchased two buildings in Addison, Texas located at 4355 and 4505 Excel Parkway in Addison, Texas. 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. Located in Addison, Texas (north suburb of Dallas), the center offers convenient access to 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. Brad Pincus of REalta Group and 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 in the center of Addison in a predominantly commercial environment, excellent access off the North Dallas Tollway, and an outstanding tenant roster were key factors in our decision to pursue Addison Tech Center. 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 with 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 throughout the country, with a national brokerage network that represents tenants across the United States. The management team at Copaken Brooks has over 125 years of combined experience in real estate investment and development.

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