Clarion Partners has bought a Texas office asset, One Victory Park in Dallas, for a fund it advises.
Brian Watkins, managing director at Clarion, said: “One Victory Park is a high-quality, well-designed, well-tenanted office building in an expanding sub-market of a vibrant city.”
The 436,253 sq ft building is 95.2% leased, with tenants including finance, legal, real estate and professional service companies.
Clarion said the property’s location provided tenants with a wide variety of amenities, including restaurants, entertainment venues and outdoor attractions.
It said the Dallas metro area had experienced strong, steady expansion, leading all Texas metros in job growth.
The Dallas unemployment rate was 3.5% in April, below that of the Texas state’s 4.4% average.