NORTHRIDGE CAPITAL PURCHASES CLASS AA MULTI-TENANT OFFICE BUILDING IN DALLAS, TX WITH ITS PARTNER, QATAR FIRST BANK
Washington, DC – September 23, 2021. Northridge Capital, LLC is pleased to announce that it has, acquired Fourteen555, a recently completed Class AA multi-tenant office building located in the Lower Tollway Corridor, an infill micro-market near the epicenter of Dallas, Texas with its partner, Qatar First Bank, the leading Shari’ah compliant bank in Qatar,. Completed in 2018, the Property consists of a six-story, best-in-class office building totaling 249,564 square feet with structured and surface parking at a 4.4/1,000 SF ratio along with efficient 43,000 square foot floorplates. Fourteen555 features a state-of-the-art three-story amenity building with a fully equipped fitness center, conference facilities, grab and go food service and an open-air covered terrace with lounge seating. In 2020, the Property was awarded BOMA’s Southwest Regional TOBY (The Outstanding Building of the Year) award, which is one of the most prestigious and comprehensive program that recognizes quality in commercial buildings and rewards excellence in building management.
Fourteen555 is 100% leased to a diverse roster of credit-quality tenants, anchored by Occidental Chemical Corporation and Moss Adams. Fourteen555 is the headquarters for Occidental Chemical Corporation (OxyChem) – a wholly owned subsidiary of Houston-based Occidental Petroleum Corporation (NYSE: OXY).
“Northridge Capital is pleased to have completed this transaction with its newest investment partner, Qatar First Bank. This marks Northridge’s first transaction with Qatar First Bank and the second Texas-based office asset in Northridge’s current portfolio,” noted Northridge Capital President David Jackson.
David Etemadi, Northridge Capital Managing Director, Acquisitions, noted, “We are thrilled to invest in an incredible asset located in a prime location in a top Sun Belt market. As the Pandemic drags on, we find ourselves focusing our investment strategy on assets that are centrally located in live-work-play environments, provide unique and desirable amenities that encourage tenants to be back in the office safely, and have strong tenant rosters.”
About Northridge Capital, LLC
Northridge Capital is an independent real estate asset management firm that has invested since its founding in 1997 in over 50 assets on behalf of its investors with a combined acquisition value of approximately $1.26 billion. Based in Washington, DC, the company works mainly with overseas institutional and individual investors to successfully define and implement customized strategies for investing in US commercial real estate. Northridge focuses on generating superior risk-adjusted returns for investors by acquiring, managing, and selling real estate assets across a wide variety of property types and located in strategic geographic areas. For further information, visit www.northridgecapital.com.
