Elegant Investment Group Acquires Two Class B Office Buildings In Richardson From Arapahoe Grande Investment

This transaction involved the sale of two fully-occupied Class B office/flex buildings situated at 1200-1300 South Sherman Street in Richardson, Texas. The total square footage of the asset is 73,646, located on a 4.71-acre lot. The properties were renovated in 2018 and are positioned near Interstate 75, contributing to their appeal in a competitive market.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Address: 1200-1300 South Sherman Street
• Market: Richardson
• Buyer: Elegant Investment Group, Inc
• Seller: Arapahoe Grande Investment, LLC
• Brokers: John Bowles, Susan Gwin Burks & Bruce Butler - Avison Young

Avison Young facilitated this transaction, highlighting the strong buyer interest attributed to the properties' stable single-tenant occupancy and the limited new flex space in the Dallas-Fort Worth market.