Avison Young completed the sale of Midway Office Park, a 53,673-square-foot office building at 14665 Midway Road in Addison, Texas.
Avison Young Senior Vice Presidents Bruce Butler, Susan Gwin Burks, and John Bowles represented the seller, Midway Office Park LLC. The buyer, Urban Infraconstruction, was represented by Taylor Stell, Principal at Lee & Associates.
Urban Infraconstruction is a Texas-based, full service certified general contractor specializing in civil construction. The firm will use the property to expand within the building, which was approximately 60% vacant at the time of closing, and plans to continue to lease space to some of the existing tenants as well.
Situated on 2.75 acres, the two-story, Class B office property was built in 1977 and was renovated in 1998. It is located within the highly coveted Quorum/Bent Tree submarket. The asset is surrounded by numerous amenities including restaurants, coffees shops, retail and hotels. It is near Interstate 635 to the south, the Dallas North Tollway on the east and State Highway 190 to the north and is near Addison Airport, Dallas Love Field and DFW International Airport.
The Addison submarket is one of the most amenitized commercial concentrations in the metroplex. AMLI, a large national multifamily developer, is boosting the growth and amenities in the immediate area with a new $220 million mixed-use development called the Treehouse. This project wraps Midway Office Park and includes town houses, apartments, and retail.
