Press Releases
Marcus & Millichap Arranges Sale of 126,790-Square-Foot Office Property in Irving
March 10, 2025
IRVING, Texas, Mar. 10, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of O’Connor Ridge Office, a 126,790-square-foot multi-tenant office building in Irving, Texas.
“We secured multiple offers to maximize value and successfully managed the complexities of the life company loan assumption process,” said Ron Hebert, senior vice president investments. “The loan was accretive to the asset’s value. Our marketing efforts targeted both multifamily and office investors, and the buyer ultimately was an office investor.”
Hebert, Joseph Jaques, David Fersing, Nick Fluellen, and Bard Hoover, investment specialists in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the California seller. Hebert and Jaques also procured the DFW-based buyer.
"Ron and his team delivered exceptional results in selling this 1980-built, 126,790-square-foot multi-tenant office property," said the seller and general partner, Shawna Pevec. "Their strategic marketing initially attracted a top multifamily redeveloper, but when the city of Irving denied the zoning request, they quickly pivoted. Drawing on their market reach, they secured a qualified office buyer from a limited pool and skillfully navigated the life insurance assumption process. Their expertise, attention to detail and commitment set them apart—I highly recommend them."
Located at 4545 Fuller Drive, O’Connor Ridge Office is a four-story, Class B office building constructed in 1980. The property includes 30 office suites and is near Highway 114, providing convenient access to downtown Dallas, Dallas/Fort Worth International Airport, and the Las Colinas business district.
“We secured multiple offers to maximize value and successfully managed the complexities of the life company loan assumption process,” said Ron Hebert, senior vice president investments. “The loan was accretive to the asset’s value. Our marketing efforts targeted both multifamily and office investors, and the buyer ultimately was an office investor.”
Hebert, Joseph Jaques, David Fersing, Nick Fluellen, and Bard Hoover, investment specialists in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the California seller. Hebert and Jaques also procured the DFW-based buyer.
"Ron and his team delivered exceptional results in selling this 1980-built, 126,790-square-foot multi-tenant office property," said the seller and general partner, Shawna Pevec. "Their strategic marketing initially attracted a top multifamily redeveloper, but when the city of Irving denied the zoning request, they quickly pivoted. Drawing on their market reach, they secured a qualified office buyer from a limited pool and skillfully navigated the life insurance assumption process. Their expertise, attention to detail and commitment set them apart—I highly recommend them."
Located at 4545 Fuller Drive, O’Connor Ridge Office is a four-story, Class B office building constructed in 1980. The property includes 30 office suites and is near Highway 114, providing convenient access to downtown Dallas, Dallas/Fort Worth International Airport, and the Las Colinas business district.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
