A New Jersey-based investor has bought a Southlake building that houses the headquarters for travel services firm Sabre Corp.
The over 265,000-square-foot office property near State Highway 114 has been owned since 2021 by Dallas investors Cawley Partners and Staubach Capital and California-based PCCP LLC.
Sabre has been based in the five-story building since 2002. The company consolidated its operations in the larger of two buildings at 3150 Sabre Drive and signed a long-term lease.
The Sabre building was constructed in 2001 and was renovated last year. The property includes a full-service cafeteria, an outdoor courtyard, a fitness center and a parking garage for more than 1,100 vehicles.
Earlier this year, the building owners hired commercial property firm Jones Lang LaSalle to market the property for sale. JLL arranged financing for the purchase with Wells Fargo. Terms of the transaction were not disclosed.
Buyer BDP Holdings is a real estate investment company with over $6.5 billion in investments in more than 30 states. The company has acquired 40,000 apartments and 5 million square feet of commercial real estate.
The Sabre building purchase is the latest investment in North Texas commercial properties.
The D-FW area through the first nine months of 2022 has topped the country with more than $30 billion in property sales.
