DALLAS, March 10, 2020 /PRNewswire/ -- Mohr Capital, a Dallas-based, privately held real estate investment firm, has acquired 4851 LBJ, a 12-story 200,000 square-foot office building in Dallas for $34.5 million. The property is 90 percent leased to date.
Mohr Capital's latest Lone Star acquisition came less than three months after acquiring a 405,000-square-foot industrial complex in Austin, Texas, called MetCenter.
"We felt the time was right to add to our portfolio," said Rodrigo Godoi, Director of Acquisitions for Mohr Capital. "The intersection of LBJ and the Dallas North Tollway is a phenomenal location in Dallas, allowing tenants quick access to the entire metropolitan area. This is a great property that contributes to the diversification of our holdings of high-quality assets nationwide while at the same time allowing us to take advantage of the existing arbitrage opportunity that exists in this submarket as it relates to rental rates."
Mohr Capital plans to invest an additional $2 million for property upgrades.
Godoi and Kyle Campbell represented Mohr Capital throughout the transaction. The sales execution team at Newmark Knight Frank, Gary Carr, John Alvarado and Robert Hill handled the sale on behalf of CBRE and the seller.
About Mohr Capital Mohr Capital is a privately held real estate investment firm specializing in the acquisition, development and value enhancement of office, industrial and retail assets throughout the U.S. The Mohr Capital team has decades of experience in commercial real estate and has completed more than $1 billion in transactions. Guided by a value-driven strategy and an entrepreneurial spirit, the company relies on strong, long-term relationships and possesses keen market insights needed to capitalize on undervalued or underperforming properties. With its family office structure, Mohr Capital can close quickly and has a proven track record of delivering the highest risk-adjusted returns.