CBRE Arranges Sale of Lakewood Towers

27 Jun 2018

Lakewood Towers

CBRE announces the sale of Lakewood Towers, two recently renovated office/medical buildings located in East Dallas’ affluent Lakewood neighborhood. The asset includes one four-story building and a nine-story tower totaling 170,111 square feet. It also includes a five-level parking garage and surface parking.

Caddo Lakewood II LP, an affiliate of Dallas-based Caddo Holdings, LLC, purchased the asset from Highland Lakewood, LLC, for an undisclosed price. CBRE’s John Alvarado, Gary Carr, Robert HillEric Mackey, Evan Stone, and Jared Chua with CBRE Capital Markets' Institutional Properties arranged the transaction on behalf of the seller.

“Lakewood Towers’ position as a fully renovated boutique office/medical property and its irreplaceable location is a highly sought-after combination for the tenant base that populates the surrounding high-end neighborhoods,” said Mr. Alvarado. 

Lakewood Towers is 99 percent leased to a strong concentration of medical tenants and local and national tenants, including Wells Fargo, Texas Neurology, Health Texas, and the publisher of Advocate Magazine. On-site amenities include a tenant lounge, conference center, and abundant garage parking.

“We owned and renovated Lakewood Towers previously and sold it in 2013,” said Justin Engler, Managing Director of Caddo Holdings. “We are pleased that Caddo as a company is once again a part of the Lakewood community. Principals within our company have a long history in the neighborhood.”

Conveniently located just three miles east of Downtown Dallas, Lakewood Towers is also within three miles of US-75 (North Central Expressway) and I-30.  Within walking distance of Lakewood Country Club and Lakewood Shopping Center, the property offers exceptional proximity to some of Dallas’ most popular residential neighborhoods and amenities, including White Rock Lake.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.