DALLAS MORNING NEWS
By: Steve Brown, Real Estate Editor
Telecommunications firm Research in Motion has bought a six-building office complex in Las Colinas.
The Canadian company that makes the popular BlackBerry has had offices in the buildings for almost two years.
Research in Motion purchased the 460,297-square-foot Riverside Commons complex from Dallas’ Westmount Realty Capital LLC.
“They decided that this property in our community was where they were going to be growing their U.S. headquarters,” said Westmount’s Cliff Booth.
“Once they made that decision, it became logical for them to own the property.’
Westmount bought the buildings in 2006 and spent more than $5.7 million remodeling them.
Sprint Nextel Corp. is also a major tenant there, Booth said.
About 50,000 square feet in the buildings is vacant.
Pat O’Keefe, Gary Carr and Eric Mackey of CB Richard Ellis negotiated the sale. Terms were not disclosed.
The transaction is one of the largest office sales this year.
Very few commercial properties are trading because of the credit crunch.
“We are very pleased in this environment to be able to sell a property,” Booth said.
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