Updated Mar 5, 2025
Steve Gozini Of BH Properties Acquires 374085 SF Industrial Park In Plano For Conversion
6700 Pinecrest Drive & 5220 Tennyson Parkway
Building Size
374,085 SF
Asset Type
Industrial
Closing
Mar 4, 2025
About this deal
AI
The asset involved in the transaction is an industrial property located at 6400-6700 Pinecrest Drive & 5212-5220 Tennyson Parkway in the Plano market. The total size of the property is 374,085 square feet, situated on a 40-acre site and was 58% leased at the time of sale.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Square Footage: 374,085 SF
- Address: 6400-6700 Pinecrest Drive & 5212-5220 Tennyson Parkway
- Market: Plano
- Acres: 40
- Buyer: Steve Gozini - BH Properties
- Brokers: Elizabeth Malone & K.C. Scheipe - Eastdil Secured
BH Properties plans to convert the Legacy R&D business park into industrial use. Stream Realty Partners will manage the property for leasing, which may include life sciences tenants.
On the Map
Industrial
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Plano Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93