Denver-based Real Capital Solutions has acquired Walnut Glen, an 18-story office tower at 8144 Walnut Hill Lane in Dallas, for $26.1 million. The purchase price represents a significant discount compared to the building’s last sale in 2016, when it was bought for $73 million. The current transaction values the property at about $56 per square foot.
The building, which spans 464,000 square feet and is approximately 49 percent leased, was previously owned by Intercontinental Real Estate Corporation of Boston. It remains valued at $72.2 million by the Dallas Central Appraisal District for tax purposes.
Real Capital Solutions plans to implement a value-add strategy that includes upgrades to the lobby, fitness center, and conference center. The company also intends to introduce move-in-ready office suites designed for tenants seeking shorter decision timelines and turnkey spaces. While the firm did not disclose the exact amount of its planned investment in improvements, it described the commitment as substantial.
Adam Abeln, chief acquisitions officer at Real Capital Solutions, stated: “The tower checks every box in terms of what the firm is looking for in a purchase to create value, such as its scale and location.”
This acquisition marks Real Capital Solutions’ second major office investment along North Central Expressway within a year. In December of last year, the company purchased Tower at Park Lane for $66 million.
Recent data from CoStar shows that Dallas-Fort Worth leads U.S. markets in office demand. Net absorption reached 3.3 million square feet through the third quarter of this year—about 0.8 percent of total inventory—making it the highest share nationally. Traditional office leasing activity in Dallas-Fort Worth is projected to have its strongest year since 2019.
