A Plano developing is added to the growing listing of workplace houses that have not long ago marketed in the Dallas space.
The 8-tale Gateway at Legacy place of work is positioned on the Dallas North Tollway in Legacy small business park.
Built in 2006, the building got a $2.5 million makeover by owner Equus Capital Associates Ltd.
Now Philadelphia-based mostly Equus has offered the Gateway at Legacy to an affiliate of Lincoln Residence Co, county information show.
Lincoln Residence originally designed the Plano business, which Equus acquired in 2018. At the time of the sale, the home was a lot less than 50% occupied.
Equus captivated new tenants which includes San Francisco-based tech company Splunk Inc., which occupies half of the making.
“With the completion of our best-in-class features and capital enhancements, we were equipped to protected Splunk as our tenant as they saw the advantage of offering this significant-course atmosphere to its workers,” Equus’ Keith Knight claimed in a assertion.
Jack Crews and Todd Savage of Jones Lang LaSalle promoted the making for sale.
Terms of the transaction ended up not disclosed.
The Plano workplace creating sale follows a flurry of very similar recent transactions.
Product sales of D-FW business office homes stalled in 2020 when the COVID-19 pandemic sent workers home.
But need for office environment place in the region has improved, with just about 900,000 square feet of web leasing in the last months of 2021.
And buyers are targeting North Texas places of work for acquisitions.