Commercial real estate news releases from Avison Young
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Avison Young brokers sale of a 48,304 sf office building in McKinney, TX
For Immediate Release
Thursday, October 13, 2022
Avison Young brokers sale of a 48,304-sf office building in McKinney, TX
Dallas, TX – Avison Young has brokered the sale of Heritage Premier, a 48,304-square-foot (sf) office building located at 1575 Heritage Drive in McKinney, TX. The three-story property was approximately 95% occupied by a diverse tenant mix at the time of sale.
Avison Young Senior Vice Presidents Susan Gwin Burks, Bruce Butler and John Bowles as well as Philip Boren represented the seller, Dallas-based PAR Capital. The buyer, a local private investor was represented by Bill Cox of Carey Cox Company.
“With a very high occupancy and a significant amount of post-Covid leasing activity, this building was attractive to a number of prospective buyers,” said Gwin Burks. “Additionally, investors are looking for solid markets with good returns and this region is one of the top contenders nationally for capital markets interest and activity.”
Built in 2006, the property is situated on 2.68 acres and includes 152 surface parking spaces. The asset is well-located just east of Interstate 75 and south of Highway 280.
For more information:
Media Contact:
Darcie Giacchetto, Media Relations Specialist – Southwest: +1.949.278.6224
Thursday, October 13, 2022
Avison Young brokers sale of a 48,304-sf office building in McKinney, TX
Dallas, TX – Avison Young has brokered the sale of Heritage Premier, a 48,304-square-foot (sf) office building located at 1575 Heritage Drive in McKinney, TX. The three-story property was approximately 95% occupied by a diverse tenant mix at the time of sale.
Avison Young Senior Vice Presidents Susan Gwin Burks, Bruce Butler and John Bowles as well as Philip Boren represented the seller, Dallas-based PAR Capital. The buyer, a local private investor was represented by Bill Cox of Carey Cox Company.
“With a very high occupancy and a significant amount of post-Covid leasing activity, this building was attractive to a number of prospective buyers,” said Gwin Burks. “Additionally, investors are looking for solid markets with good returns and this region is one of the top contenders nationally for capital markets interest and activity.”
Built in 2006, the property is situated on 2.68 acres and includes 152 surface parking spaces. The asset is well-located just east of Interstate 75 and south of Highway 280.
For more information:
Media Contact:
Darcie Giacchetto, Media Relations Specialist – Southwest: +1.949.278.6224
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Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.
Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.