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Matt Marchiori Of Eckard Enterprises Acquires Office Building In McKinney For $66M From Derrick Evers

Property Image
SOLD
$66,000,000

Texas

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Office190,000 SF
Sold 12/01/2025
the dealdetailscomps
Property Image
SOLD

Matt Marchiori Of Eckard Enterprises Acquires Office Building In McKinney For $66M From Derrick Evers

7300 State Highway 121

See Similar Deals
Office190,000 SF
Sold 12/01/2025
the dealdetailscomps

Summary

TEXAS
Asset Type:Office
Price Per Square Foot:$347
Total Square Footage:190,000 SF
Transaction Type:Sale

The property involved in the transaction is an office building located at 7300 State Highway 121 in McKinney. The asset spans 190,000 square feet and was sold for $66 million, resulting in a price per square foot of $347. The building, completed in 2022, features modern amenities and is part of the District 121 mixed-use development.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $66,000,000
  • Buyer: Matt Marchiori - Eckard Enterprises
  • Seller: Derrick Evers - Kaizen Development Partners
  • Market: McKinney
  • Square Footage: 190,000
  • Price per Square Foot: $347

Matt Marchiori, representing Eckard Enterprises, acquired the property with plans to relocate its headquarters, while Derrick Evers represented Kaizen Development Partners as the seller of the asset.

Players

KP
Kaizen Development Partners
SELLER

Details

SOLD
IMAGE: Matt Marchiori & Derrick Evers DATE: 12/01/2025 ADDRESS: 7300 State Highway 121 MARKET: McKinney ASSET TYPE: Office ~ SF: 190,000 BUYER: Matt Marchiori - Eckard Enterprises SELLER: Derrick Evers (@Evers_Derrick) - Kaizen Development Partners SALE PRICE: $66,000,000 SF: 190,000 ~ PPSF: $347 NOTE: Eckard Enterprises bought the 190,000-square-foot office building at 7300 State Highway 121 in McKinney for $66 million and will relocate its headquarters to the 2022-built property in the District 121 mixed-use development.The building, sold by Kaizen Development Partners, includes modern amenities and sits within a larger project featuring restaurants, an events stage, and the recently opened 102-room Denizen Hotel.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$234,484.05
Cash-on-Cash Return-1.27%
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