Behringer Announces Acquisition of Light Industrial Building in Addison

DALLAS--(BUSINESS WIRE)--Today, Behringer announced its acquisition of Addison II, a light industrial property located in Addison, Texas from an affiliate of Allen, Texas-based Pillar Commercial. The project serves a mix of specialized tenants in a dynamic infill DFW submarket.

“Addison II is an excellent addition to our portfolio and aligns with our light industrial strategy,” said Michael D. Cohen, CEO and President of the Dallas-based family office that focuses on real estate equity investments. “This acquisition reflects our ability to source institutional quality industrial assets in competitive submarkets and to identify assets uniquely positioned to deliver for our investors.”

Located at 4550 Excel Parkway, Addison II features ground-floor industrial/flex space with a mezzanine level totaling 182,154 square feet. Constructed in 1996, the property has historically attracted a range of tenants due to its functional layout and strategic location. Addison II is 89% leased to four diverse tenants engaged in industries including aviation innovation and aeronautical rocket technology, among others.

In an effort led by Dillon Buhrkuhl, its president, Pillar Commercial is actively marketing to prospective tenants the 16,947 and 2,600 square foot northwest-corner vacancies of the building with plans for a significant refresh of the spaces to prospective tenants.

About Behringer:

Founded in 1989, Behringer, a family office that specializes in investment and management of private commercial real estate in Texas. Throughout its history, the company raised over $6 billion in investor capital and acquired $11 billion in assets across 10 countries, covering all major commercial real estate asset classes. Behringer’s experienced team combines an institutional approach with entrepreneurial agility, having navigated multiple market cycles. With a proven track record, Behringer remains committed to investing with integrity for its partners and the Behringer family.