Acram Group Acquires Office Building On Spectrum Drive In Addison For $114.3M

An office property located at 5080 Spectrum Drive in Addison was recently sold for a total of $114,300,000. The property spans over 614,000 square feet, resulting in a price per square foot of $185. The transaction took place on 04/05/2022 and involved the buyer, Acram Group, represented by Matt Cassin from Oak Hill Advisors, and the seller, Granite Properties. The buyer's representatives, Jim Curtin and Ryan Pollack from JLL Capital Markets, Americas, negotiated the deal, while Todd Savage from the same agency represented the seller.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $114,300,000
• Address: 5080 Spectrum Drive
• Market: Addison

The acquisition of the office property at 5080 Spectrum Drive was facilitated by Acram Group, with Matt Cassin representing Oak Hill Advisors. On the other side, Granite Properties decided to sell the asset, with Todd Savage from JLL Capital Markets, Americas serving as their representative. This transaction marks a significant investment in the Addison market and showcases the expertise of the brokers involved in the deal, Jim Curtin and Ryan Pollack from JLL Capital Markets, Americas.