Encore Enterprises Doubles-Down on Dallas: Acquires Class B Commercial Medical Office Building, Reopens Corporate HQ as Owner-Occupied Tenant
DALLAS--(BUSINESS WIRE)-- Encore Enterprises, Inc. (Encore) today announced the acquisition of a two-story, Class B medical office building at $114 PSF with 61,356 rentable square feet, located at 16980 N. Dallas Parkway. Situated on 3.144 acres fronting the N. Dallas Tollway north of Westgrove, adjacent to the Quorum/Bent Tree submarket, Encore financed the $7 million property through a bank loan from the Dallas Commercial & Industrial team at Cadence Bank in the inaugural business transaction between the entities. The acquisition grows the Encore Commercial, LLC portfolio to 27 properties under management and marks the sole commercial office asset in the mix.
'Dallas pride runs deep in the heart of Encore Enterprises, where for 26 years we've called this thriving metroplex home,' said Bharat Sangani, M.D., chairman and CEO, Encore Enterprises. 'With the acquisition 16980 N. Dallas Parkway, we cement our future in one of the strongest performing economies in the nation while also helping reinvigorate Dallas' tough office market.'
Built in 1985 and renovated between 2015-2017, 16980 N. Dallas Parkway is 58.2% occupied by five strong credit tenants, four of which have been in the building over 10 years, with no lease expirations until 2026. Encore Enterprises will self-manage the property and relocate its corporate headquarters there. The building features high-quality construction with a brick and glass façade and 50 below-grade garage spaces alongside 22 covered surface parking spaces. With easy access to the President George Bush Turnpike, 16980 N. Dallas Parkway is 15 miles from downtown Dallas, 13 miles from Love Field Airport and 20 miles from DFW International Airport. There are over 70 restaurants and 22 lodging options within three miles, and over 80 retail establishments and nine nature trails within six miles. Just over 1 acre of partially paved vacant land along the N. Dallas Parkway frontage road remains green space for future development.
'Despite sector volatility and a challenging lending environment, securing financing for an owner-occupied office building remains achievable for elite buyers like Encore Enterprises who not only have a remarkable performance track record and deep experience managing commercial properties, but also robust financial strength,' said Sam Manohar, Cadence Bank SVP, senior relationship manager in Dallas. 'After a comprehensive audit of all financials and portfolio assets, it was clear there was a strategic opportunity to finance 16980 N. Dallas Parkway and commence a new partnership with a financially resilient and established company like Encore.'
About Encore Enterprises, Inc.
Founded in 1999, Encore Enterprises, Inc. (Encore) is a Dallas-based vertically integrated, diversified investment firm. Since inception, Encore has completed over 150 commercial real estate transactions valued at $3.7 billion, with $1.8 billion current AUM across 32 states. Focusing on opportunistic and value-add strategies in non-gateway markets throughout the U.S., Encore develops, acquires and manages mixed-use retail centers, multifamily apartment developments, limited and full-service hotels, commercial office buildings and Veterans' administration medical office centers. Encore also acquires operating companies in the medical, dental and restaurant industries as part of its sustainable investment model. Encore boasts one of the best 26-year track records in the industry, underscoring the firm's focus on operational stability, prioritization of capital preservation and strength across market cycles. Encore investment offerings are available through Ignite Investments, a wholly owned subsidiary and the exclusive investor relations platform for Encore Enterprises. To learn more, visit https://encore.bz.
About Cadence Bank
Cadence Bank (NYSE: CADE) is a $50 billion regional financial services company committed to helping people, companies and communities prosper. With more than 350 locations spanning the South and Texas, Cadence offers comprehensive services and products including commercial and business banking, treasury management, specialized lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning and retirement plan management, consumer banking, consumer loans, mortgages, home equity lines and loans, and credit cards to meet the needs of individuals, businesses and corporations. Accolades include being recognized as one of the nation's best employers by Forbes and U.S. News & World Report and a '2025 America's Best Banks' by Forbes. Cadence maintains corporate offices in Houston and Tupelo, Miss., and has dutifully served customers for nearly 150 years. Learn more at www.cadencebank.com. Cadence Bank, Member FDIC. Equal Housing Lender.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
Metal manufacturer to lay off nearly 150 in Lakeville, Shakopee, Plymouth
A Plymouth-based sheet metal fabricator and manufacturer of precision metal components will close all of its Minnesota facilities, including its Lakeville, Plymouth and Shakopee locations, laying off nearly 150 workers following failed efforts to put itself up for sale. J&E Companies will lay off 45 employees from its Lakeville site alone, including welders, machine operators, process engineers, plant managers, drivers and other job classifications. A letter to the Minnesota Department of Employment and Economic Development, dated June 2, indicated that the layoffs will take effect that same day 'due to financial difficulties and circumstances,' and that 'a potential sale of the business' had fallen through. The workers are non-unionized and do not have bumping rights, according to the company's letter, which is signed by a corporate adviser from Harney Partners. J&E Companies was founded more than 65 years ago and provided precision machining and fabrication services to the medical, aerospace, commercial and agricultural industries, according to its website. In 2022, it acquired R&B, a Wisconsin-based precision machining company with more than 100 employees. In all, the merged companies maintained six sites in Minnesota, Racine, Wis. and Reynosa, Mexico, with a combined total of 325 employees. A call to a company spokesperson was not immediately returned on Wednesday. Whitebridge Capital Partners announced Wednesday it is acquiring the major assets of R&B Grinding of Racine, which will be renamed RB Industrial Manufacturing LLC, 'in recognition of the full range of machining processes the company can provide from its 140,000 square foot facility,' reads a statement from Whitebridge, which specializes in distressed manufacturing companies. 'We're not involved in the Minnesota operations at all,' said Todd DiBenedetto, principal with Whitebridge Capital Partners, in a brief phone interview on Wednesday. He said the Mexican plant was still in operation, and 'we are looking at it. We may get involved with it in the future, but right this second, we're not.' Feds: Minneapolis, Dakota County search warrants stemmed from 900 lbs of meth found in Burnsville storage unit Eagan city administrator withdraws resignation, passes up ICMA role Community memorial set for William 'Ike' Eickholt, found dead last winter MN Legislature: Measure to divert transportation funds from counties dropped Charges filed in drive-by shooting outside Burnsville High School graduation
Yahoo
18 minutes ago
- Yahoo
Raising Cane's Just Opened Its First Location In This Southern City
When Raising Cane's opened its first location in Southaven, Mississippi this week, a long line of customers was already waiting. It's no wonder, because the new restaurant gave 20 lucky customers free Cane's for a year, according to WREG in Memphis. The Louisiana-based chicken chain is known for chicken fingers dipped in Cane's Sauce, a proprietary and top-secret recipe. Combos come with a side of crinkle-cut fries, cole slaw, and Texas toast. WREG says a 10-year-old, Adam Hamed, got his parents to drive him from out of town at 6 a.m. for a chance at free chicken. The store opened at 10 and Hamed was 83rd in line. 'It's the sauce and the chicken tenders. That's what I love — the sauce,' said Hamed. As for the woman who was first in line, Suzette Hughes from Milington, she slept outside the door. 'There is no place like Cane's… no place like Cane's… no place like Cane's,' she told WREG. 'I got here last night, about 8 last night, camped on the sidewalk. Had my blowup queen-size air bed. That's where I slept.' Those who didn't win a year's worth of chicken still got something for their efforts. The chicken chain gave out a commemorative hat and free box combo card to the first 100 buyers of a combo. Raising Cane's has added more than 800 locations since the original restaurant opened near LSU's campus in 1996. Read the original article on Southern Living
Yahoo
18 minutes ago
- Yahoo
$16.5M Storm Water Revenue Bond secured by the city of Norfolk
NORFOLK, Va. (WAVY) – The City of Norfolk issued a $16.5 million Storm Water Revenue Bond through the Virginia Clean Water Revolving Loan Fund on May 29, which is designed to fund storm water infrastructure improvements across Norfolk. The various projects include enhancements to St. Paul's Blue-Greenway and restoration of shorelines and wetlands across the city. The total cost of the project is expected to reach nearly $18.5 million, but the city is receiving nearly $2 million in principal forgiveness. This means the remaining balance will come at no extra cost to Norfolk. For more information on the project visit the link . Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
