Dec 12

Grupo Haddad buys Uptown building from Caddo Holdings

A Mexican investment firm, Grupo Haddad, has bought a seven-story Uptown tower from Caddo Holdings for an undisclosed sum.

Grupo Haddad has been expanding its Dallas-Fort Worth portfolio this year, picking up industrial and office properties throughout the region. The firm’s expansion comes at a time when Caddo Holdings recently placed five properties on the market.

The seven-story office building sits on 1.3 acres of land at 2501 Cedar Springs Road in Dallas and is 100 percent occupied, with its top-of-signage anchor Crosstex Energy LP (NASDAQ: XTEX).

HFF marketed the property, as well as other Uptown properties owned by Caddo Holdings.

Office space in Uptown has higher-than-normal occupancy rates compared to other submarkets in North Texas, which hasfueled demand from investors for well-located properties.

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