Sabre’s longtime home in Dallas has been picked up by a New Jersey-based investor.
The sellers, Dallas investors Cawley Partners and Staubach Capital and California-based PCCP, bought the 265,000-square-foot office property near State Highway 114 last year. After significant renovations, the three investors tapped commercial property firm Jones Lang LaSalle to market the property in March. Terms of the transaction were not disclosed, according to the Dallas Morning News.
Built in 2001, the two-building complex had housed Sabre, a travel technology company based in Southlake, since 2002. The corporation consolidated its operations last year to the larger of two buildings at 3150 Sabre Drive. It also signed a new long-term lease which runs through 2032. The 210,000-square-foot building next door, at 3120 Sabre Drive, was not part of the sale.
The buyer is BDP Holdings, a real estate investment company that’s acquired 40,000 apartments and 5 million square feet of commercial real estate since its incorporation. BDP principal Dennis Lim touted Sabre’s profitability and Texas’ “pro-business environment” in a media release.
Within the first nine months of 2022, the Dallas-Fort Worth metroplex has topped the country with more than $30 billion in property sales.
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