Gildenson Real Estate Acquires One Legacy Circle Office Building In Plano, Texas
7500 Dallas Parkway
Building Size
214,000 SF
Asset Type
Office
Closing
Oct 31, 2023
AI
One Legacy Circle, an 8-story office building with over 214,000 square feet in Plano, Texas, was recently sold in a real estate transaction. The property is located at 7500 Dallas Parkway in the Plano market. The exact purchase price was not disclosed, but the office building is more than 70% leased and houses notable tenants such as Morgan Stanley, Bread Financial, and TBX Employees Benefits. The transaction was facilitated by a real estate partnership represented by Gildenson Real Estate and the property was sold by Franklin Street Partners.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Square Footage: 214,000
- Address: 7500 Dallas Parkway, Plano, Texas
- Market: Plano
The deal was successfully brokered with the assistance of several parties. Jared Chua, Jennifer Joseph, Matt Murphy, Michael Dewey, Patrick Benoist, and Russell Ingrum from CBRE, as well as representatives from Gildenson Real Estate, played crucial roles as brokers. Additionally, Liberty National Bank served as the lender in the transaction.
Players
Plano Office Market Snapshot
Boundary boundary · Office · 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