Bent Tree Tower II, a 166,000-square-foot office building in Addison, has been acquired by Hudson Peters Commercial. The seller, Regent Properties, is a Los Angeles-based multi-faceted real estate investment management firm.
“Its location along the middle portion of the Tollway has allowed it to benefit from escalating rents in Frisco/Legacy to the north and Preston Center to the south, making it a good long-term investment,” said Matthew Benbassat, chief operating officer at Regent Properties. With $4.7 million invested from Regent Properties, the building now includes a remodeled entrance, an updated lobby, and a modernized building systems.
Hudson Peters Commercial formed the buying entity through their Tenant Ownership Program. Prior to acquiring the building, Hudson Peters was a tenant in the building. “We understood that it is a quality asset and we are excited to build on the existing attributes of the building with an aggressive leasing program.” Said Janice Peters, principal at Hudson Peters Commercial.
With the change in ownership, the building will now be managed by the Hudson Peters property management division.