Buchanan Capital Partners Acquires Churchill Tower in Dallas's Park Central Submarket
Buchanan Capital Partners (BCP) has acquired Churchill Tower, a Class A office building located at 12400 Coit Road in Dallas’s Park Central submarket. The 12-story tower spans 277,268 square feet and is currently 93% leased to approximately 50 tenants, including major anchor tenant Carr, Riggs & Ingram (CRI). Recently renovated in 2025, the property features modern amenities such as a fitness center, conference space, EV charging stations, and on-site retail. BCP acquired Churchill Tower during a period of reduced institutional capital flow into office real estate, enabling an attractive cost basis for this well-located asset. The building benefits from its proximity to affluent Dallas neighborhoods and major transportation routes like US-75 and I-635. Class A rents in the area are currently 36% lower than those along Central Expressway, with new supply shrinking due to redevelopment efforts by companies such as Costco and H-E-B. BCP emphasized that Churchill Tower offers a strong going-in yield and stable cash flow from its diversified tenant base. BCP’s strategy focuses on acquiring assets at low cost bases while enhancing value for tenants through capital improvements. The firm, based in Austin, Texas, operates with no fees to investors and prioritizes performance-based returns across commercial real estate investments.
Topics: acquisition Class A office tower Dallas real estate market