The Dallas office of Hines has announced that Hines REIT has acquired Chase Tower from 2200 Ross, L.P. The 55-story, Class A office tower is located at 2200 Ross Avenue in the Arts District/Midtown area of Dallas. The seller was represented by Holliday Fenoglio Fowler in the transaction. Hines is the sponsor of Hines REIT, and is responsible for the management and leasing of its assets.
On the photo: the 55-story Chase Tower
The 1,296,407-ft² office tower was designed by Skidmore, Owings & Merrill and was completed in 1987. It is recognizable by its unique architecture, which includes a curved glass top and a seven-story keyhole in the center of the building near the top. Parking is provided on six floors beneath the building, as well as in an adjacent 14-story garage.
The property is 92% leased to tenants, including JPMorgan Chase; Locke Lord Bissell & Liddell LLP; Deloitte & Touche LLP; and Fulbright & Jaworski.
"We believe Chase Tower is an outstanding investment for the Hines REIT due to its superior architecture, tenancy and prominent location," said Charles Hazen, president of Hines REIT.
"Hines has had a presence in Dallas for more than 33 years, and this is an exciting opportunity for the firm to expand its longstanding presence in the area with the acquisition of this high-profile building," said Senior Vice President Clayton Elliott.