The Swig Co. Sells Dallas-Area Office Asset

901 S. Central Expressway

The Swig Co. has sold Fossil Group’s global headquarters in Richardson, Texas. A joint venture between JP Realty Partners and Liberty Bankers Insurance purchased the 536,000-square-foot office asset and Happy State Bank provided $42 million for the acquisition, according to Dallas Morning News. Senior Managing Director Andrew Levy of JLL represented the seller.

Current owner of roughly 9 million square feet of office space across the Bay Area, Seattle, New York and Southern California, The Swig Co. purchased the asset in 2005. Fossil became its sole tenant roughly a decade ago, renovated the building and currently intends to sublease roughly 135,000 square feet at the property, according to the same local news article.

Completed in 1971, the four-story office building went through cosmetic renovation in 2002, according to CommercialEdge data. The property includes surface and structured parking with a ratio of 4.06 spaces per 1,000 square feet, as well as 9 acres of vacant land.

Situated on 29 acres at 901 S. Central Expressway, Fossil’s headquarters is some 12 miles north of downtown Dallas in the Telecom Corridor, just south of U.S. Route 75. Dallas Love Field Airport is some 13 miles southwest.

Nearly 14.5 million square feet of office space traded in Dallas-Fort Worth in the first half of the year, according to CommercialEdge research. Of the total, only 297,000 square feet changed hands in the Telecom Corridor.