Bradford Companies Acquires Bent Tree Green: A Prime Value-Add Opportunity in North Dallas

Bradford Wins High-Stakes Race for Office Project In Far North Dallas, $9.6M in Upgrades Coming

DALLAS – Bradford Companies has acquired the 139,609-sf Bent Tree Green in Far North Dallas in a highly competitive chase for a value-add acquisition opportunity with freeway frontage in the largest and most active office submarket in North Texas. 

The acquisition and planned $9.6-million investment into upgrading the three-story office building at 17300 North Dallas Parkway in Dallas effectively closes out Bradford Opportunity Fund III. Bent Tree Green was 60% leased at sale time. 

"Our reputation for closing deals made us stand out in the best-and-final round," says Kevin J. Santaularia, president and CEO of Dallas-based Bradford. "Bent Tree Green offered the type of opportunity we continually seek in terms of acquisition basis and value-add creation through modernization, management and leasing." 

Richmond Collinsworth, senior vice president and managing partner of Bradford Commercial Real Estate Services, represented the buyer of record, Bradford BTG Partners LLC. JLL marketed the asset for the longtime owner, Silver Star Properties of Houston. 

"We were honored to work with a well-regarded firm like Bradford and its executive team to assist in the purchase and renovation of one of the Metroplex's iconic properties," says William E. Lowe, chairman, president and CEO of Harmony Bank, which provided financing. 

Bradford's multimillion-dollar repositioning strategy will add a fitness center, outdoor tenant lounge, putting green and speculative suites to the property, which overlooks the 190-acre Bent Tree Country Club. Additional upgrades include modernizing the energy management system, chillers, cooling towers and security. Curtis Kouba, executive vice president and managing director of Bradford Management Co. Inc., will oversee the yearlong construction. 

Bradford also plans to establish a field office in Bent Tree Green to serve clients in North Dallas, Plano and Frisco, which will include leasing, accounting and management services. At the helm of leasing will be Collinsworth, who will be joined by Melanie Hughes, a senior vice president and the project's on-site representative.  

"The building truly is under-leased and under-managed for that submarket," Collinsworth says. "We are planning to restore the bar on Bent Tree Green's image in the marketplace." 

Bent Tree Green is situated on 3.5 acres of prime land with unobstructed views of the Dallas North Tollway and the top-ranked private Bent Tree Country Club with invitation-only membership. Located at the heart of the Metroplex's growth corridor, the office project is visible to more than 140,000 daily commuters, a high percentage of whom are high-net worth decision-makers living in nearby gated communities. 

Bent Tree Green's high-barrier-to-entry location and surrounding demographics pair well with Bradford's legacy of turning value-add acquisitions into high-yielding investments. The Far North Dallas office submarket consistently leads the Metroplex in net absorption, a factor that bodes well for the firm's well-honed performance-based strategies. 

"Bradford focuses on office and industrial acquisitions where we can create value for our investors," Santaularia emphasizes. "Bent Tree Green is a prime example of a high-profile, well-located asset with untapped potential in a top-performing submarket." 

 

April 2, 2024

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