Avison Young has successfully facilitated the sale of the Midway Office Park in Addison, Texas, to Urban Infraconstruction, a contractor aiming to expand its operations within a strategic location.

Target Information

The transaction involves the Midway Office Park, a 53,673-square-foot office building located at 14665 Midway Road in Addison, Texas. This two-story, Class B office property, originally built in 1977 and renovated in 1998, sits on a 2.75-acre lot in a prime location within the Quorum/Bent Tree submarket, an area known for its numerous amenities and commercial vibrancy. At the time of sale, the building was approximately 60% vacant, thus providing significant opportunities for growth and tenant engagement.

Industry Overview in Texas

The commercial real estate market in Texas, especially in the Dallas-Fort Worth area, has witnessed a remarkable recovery and growth in recent years. Factors such as a favorable business climate, population growth, and the influx of technology and finance companies have significantly boosted demand for office spaces. The Addison area has emerged as a particularly attractive destination for businesses due to its strategic location, excellent infrastructure, and accessibility to major highways and airports.

The ongoing development projects, including residential and mixed-use developments, further enhance the value proposition of commercial properties in this region. Notably, AMLI's $220 mill