North Richland Hills office tower sells to local real estate investors

KOC Gran Via, a locally-based commercial real estate investment company led by Ben Sumner and Mark Hord, has bought Richland Corporate Centre in North Richland Hills.

The 142,425-square-foot, Class A office building was sold by the Gaedeke Group in Dallas. Gaedeke owned the property for two decades. Frost Bank and History Maker Homes are major tenants in the building. History Maker Homes moved in in 2006.

Eric Mackey, Gary Carr and John Alvarado with CBRE brokered the sale.

The property includes a nine-story office tower and three-story garden office building, both of which are connected to the building’s three-level parking garage.

KOC Gran Via said it plans interior and exterior upgrades, a new building conference room for tenant use and interior ready suites.

“This is the premier office building in the Mid Cities submarket, and with the completion of construction along Airport Freeway, the building’s access to all areas of Tarrant County and DFW International Airport has been greatly enhanced,” Sumner said.

The property also has 4.8 acres of land fronting both Texas 183 and Texas 121 and Weyland Drive, which the owners plan to market for build-to-suit office, medical or retail pad site opportunities.

Richland Corporate Center was developed as the Nowlin Center in 1987 by Trammell Crow Co. in a joint venture with Nowlin Savings.

This story was originally published July 29, 2015 at 10:00 AM with the headline "North Richland Hills office tower sells to local real estate investors."