Steve Gozini Of BH Properties Acquires 374085 SF Industrial Park In Plano For Conversion
6700 Pinecrest Drive & 5220 Tennyson Parkway
Building Size
748,170 SF
Asset Type
Industrial
Closing
Mar 4, 2025
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.
Players
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