JLL Capital Markets arranged $13.1 million in acquisition financing for Allen Corporate Center, a 97.5% leased, 82,834-square-foot multi-tenant office campus in Allen, Texas.
JLL worked exclusively on behalf of the borrower, Perceptive Real Estate Equities, Inc. to secure the five-year, unstructured, fixed-rate, non-recourse loan through a correspondent life insurance company.
Completed between 2005 and 2017, Allen Corporate Center comprises four single-story buildings ranging from approximately 18,000 to 23,000 square feet. The buildings feature private entrances for each tenant, ample parking, efficient suite layouts with personal lobbies, conference rooms, break areas, private restrooms and modern building systems, including updated HVAC and electrical infrastructure capable of supporting users with various requirements. The property is 97.5% leased to a diversified tenant roster, including Unify Financial Credit Union, CEC Corporation, Harris Local Government Solutions, Preferred Dermatology Partners and Texas Senior Care.
Allen Corporate Center is located on 8.8 acres at 740-800 N. Watters Road within the Allen/McKinney office submarket, one of North Dallas’ most consistent, high-performing office markets. The property provides excellent connectivity via direct access to U.S. Highway 75 and the Sam Rayburn Tollway, linking tenants to major employment, residential, and retail centers throughout the Dallas metroplex, including Watters Creek Village, The Shops at Allen, Watters Creek at Montgomery Farm and The Village at Allen. Additionally, the project is located less than one mile from Texas Health Presbyterian Hospital Allen, which serves as a significant demand driver for medical-affiliated companies.
JLL’s Capital Markets Debt Advisory team representing the borrower was led by Managing Director Todd Sugimoto, Directors Chad Morgan and Luke Rogers, Associate Jalynn Borders and Analyst Jenny Barger.
