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7500 Dallas Parkway

Gildenson Real Estate Acquires One Legacy Circle Office Building In Plano, Texas
SOLDOffice

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

Russell Ingrum

CBRE

Broker

$145.7M

vol

5 deals

Broker
Eduardo Gildenson

Eduardo Gildenson

Gildenson Real Estate

Buyer

$13M

vol

3 deals

Buyer
George Carter

George Carter

Franklin Street Properties

Seller

$38.3M

vol

4 deals

Seller
Liberty National Bank
Liberty National BankLender

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