Hartman Short Term Income Properties XX, Inc. Acquires Westway One

DALLAS – Hartman Short Term Income Properties XX Inc. (Hartman XX), a Texas-centric Real Estate Investment Trust, announced today that Hartman Westway One, LLC, a subsidiary, purchased the Westway One office building in Irving, TX.

WESTWAY ONE – Westway One is a 165,982 square foot office building located just off Lyndon B. Johnson Freeway and Olympus Boulevard in Irving.  Built in 2001, Westway One is surrounded by over 100 retail shops and restaurants and the building is well-suited to corporate users that value walkable amenities and quick access to freeway transportation routes. Westway One is located within five minutes of DFW Airport via Lyndon B. Johnson Freeway.  An updated lobby, beautiful landscaped campus, large floor plates (55,248 RSF), and structured parking distinguish Westway One from many competitive buildings in the submarket.

“We are pleased to acquire a well located value office property with quality tenancy, outstanding access, long term leases, an accretive yield, and an attractive basis,” said David Wheeler, Chief Investment Officer.

The property is 100% leased to a diverse mix of tenants including Lennar Corporation (NYSE: LEN) with 59,152 RSF and CEC Entertainment with 55,257 RSF.

“Westway One was acquired at a discount to replacement cost and provides our investors a stable stream of rental income with quality tenants,” said Al Hartman, Hartman CEO.

Kurt Cherry, Brittany Ricketts, Shea Byers, & John Dailey with PM Realty Group represented the seller in the transaction and David Wheeler, Russell Turman, and Julian Kwok represented the buyer, Hartman Westway One, LLC.