Seven-building Tollway North Office Park in Legacy Business Park sells to Los Angeles investor

A seven-building office campus in west Plano has changed hands.

California-based investment firm KBS has sold Tollway North Office Park, a 297,591-square-foot property on about 27 acres inside Legacy Business Park, according to a report Tuesday by REBusinessOnline, a commercial real estate trade publication.

The buyer is BH Properties, an investment firm based in Los Angeles. The publication reported that the campus was about 70% leased when the deal closed. A sale price was not disclosed.

Built for more than offices

The property can accommodate life sciences and light industrial tenants as well as traditional office users, the report said. Its features include exterior entrances to individual suites, finished ceilings of 10 to 13 feet and opportunities for building signage.

Who handled the deal

A Newmark team of Chris Murphy, Gary Carr, Robert Hill and Austin Sheahan represented KBS in the sale. Scott Henry represented BH Properties internally, according to the report.

The report did not say what BH Properties plans for the roughly 30% of the campus that was unleased at closing, or whether it intends to court the lab and light industrial users the buildings can support. A search Tuesday turned up no separate announcement of the sale from either firm.

Sources

rebusinessonline.com