Sabre headquarters. Image courtesy of JLL
BDP Holdings has acquired a five-story office building in Southlake, Texas. The 265,942-square-foot campus has been serving as the headquarters of travel software and technology firm Sabre Corp. since 2002.
JLL Capital Markets represented the seller and arranged financing for the buyer. A joint venture between Cawley Partners, Staubach Capital and PCCP sold the asset. BDP Holdings closed the acquisition using a 10-year Wells Fargo & Co. loan arranged by JLL.
Completed in 2000 on a 20-acre site and fully renovated last year, the LEED-certified building is located at 3150 Sabre Drive, some 11 miles from the Dallas Fort Worth International Airport, adjacent to Northwest Parkway.
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A full-service cafeteria, outdoor courtyard, fitness center, as well as surface parking for more than 1,100 vehicles are among the property’s amenities.
Located in Dallas’ Westlake/Grapevine office submarket, where rents have seen an increase of more than 14 percent over the last five years, the property is exposed to affluent demographics, with an average household income of $270,000. Moreover, nearly 70 percent of the area’s residents hold a bachelor’s degree or higher.
The Dallas-Fort Worth office sector continues to draw the attention of investors, outpacing the national average for its return-to-office trend in the first half of 2022.
According to a recent CommercialEdge national office report, the Dallas market claimed the fifth-largest office sales volume in the U.S., at more than $3.7 billion as of September.
