KBS completed the sale of Tollway North Office Park, a seven-building, 297,591-square-foot Class-A business campus in Plano, Texas’ Legacy Business Park, part of the Dallas-Fort Worth metro area.
The property was acquired by BH Properties, a Los Angeles-based commercial real estate investment firm specializing in value-add acquisitions.
According to Giovanni Cordoves, KBS’ Western regional president, the transaction highlights the firm’s long-standing investment presence within the Dallas-Fort Worth market, which continues to benefit from strong population and employment growth.
Tollway North Office Park has dedicated exterior suite entrances, 10- to 13-foot finished ceilings, building signage opportunities and a parking ratio above the market average. The property has the potential to accommodate a variety of office, research and development, light industrial and other commercial uses.
The Dallas-Fort Worth metro area remains one of the nation’s leading growth markets, supported by corporate relocations, population growth and a highly educated workforce. Within the region, Plano’s Legacy Business Park is widely recognized as a premier business destination, offering a mix of office, retail, residential and hospitality amenities anchored by Legacy West and The Shops at Legacy.
Newmark’s Chris Murphy, Gary Carr, Robert Hill and Austin Sheahan, represented KBS in the transaction. Murphy notes the sale reflects continued investor interest in well-located assets within Plano’s Legacy Business Park.
Attorneys Bruce Fischer and Caroline Pricher, along with paralegal Amanda Kennedy of Greenberg Traurig LLP, represented KBS in the disposition.
