Dallas-Based Investor Acquires Westway One Office Building In Irving For $12.5M

The Dallas-based investor has purchased Westway One in Irving for $12.5 million as part of the bankruptcy restructuring of Silver Star Properties REIT's subsidiary, Hartman SPE. The property, located at 1707 Market Place Boulevard, is an office asset with a size of 170,000 square feet. The price per square foot was $74, resulting in a total sale price of $12,500,000.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $12,500,000
• Square Footage: 170,000
• Price per Square Foot: $74
• Address: 1707 Market Place Boulevard, Irving

Hartman SPE, represented by David Wheeler of Silver Star Properties REIT, acted as the seller in this transaction. The sale is part of the REIT's efforts to address its $217 million debt and raise funds for future business plans, primarily focused on acquiring self-storage assets.