Thanks to investor that represents his real estate firm, it was paid about $15 million ($375, if we talk about square foot) for nearly one acre of land property, located nearly the Victory Park. So, we can say that the Dallas real estate, located just at north, has set a record.
One newly-built Pharmacy has occupied the land at 2501 N. in the Field St., and they has a lease for 25 years. And the company that specializes in the tenant retail transactions – Boulder Group – has talked about the investor, which paid for the CVS store about $14,890,000.
“Whereas the single tenant properties are working in all areas; Dallas, or simply the core markets, are in the named forefront of the demand,” said in his declaration Jimmy Goodman, the member of The Boulder Group.
And the Boulder Group in generally, says that in this moment it already purchased about (or more than) $1.5 billion projects, which are being under construction near of the CVS. And most of them are located nearly to the 75-acre Victory Park.
Dallas investment group has bought the building. So, the realty was last valued at already $3 million. Valued for the property taxes, of course.
The developers are buying the land dedicated for the apartments and offices, because the sales of working sites in uptown ultimately have topped $200 for one square foot.
Talking about the most expensive purchases of land per square foot, we need to remember not only the CVS, but also this purchase: the northwest part of the Pearl Street (and the Woodall Rodgers Freeway) which was bought for more than $300 (per square foot, of course) by the developers of one big complex.
There are a few figures, related with the uptown building sales (obviously, we are talking about the high price points): about $500 per square foot of the 21-story tower 2000 McKinney, and the other McKinney high-rise (in this moment the pending sale) – $510 per square foot.
Talking about this, John Crawford, and also the Downtown Dallas Inc., said that all this CVS purchases are yet another indication that the various development and the downtown are becoming an great opportunity of investment.