Campbell Creek | Richardson, TX
Posted on June 1, 2016
Richardson, TX | Off-Market Value-Add Office Acquisition
|Address:||2220 - 2360 Campbell Creek Blvd, Richardson, TX 75082|
|Size:||317,247 SF on +/- 27.5 acres|
|Property Type:||Class B Office|
|Development Cost:||$27.8M ($88 PSF)|
Campbell Creek Pavilion is a five-building, single story office portfolio totaling 317,247 sf across five buildings in Richardson (Dallas), Texas. The project was 77% leased at acquisition with one large contiguous vacant space with an above-market parking ratio. This low-basis acquisition presents the opportunity to enjoy stable current cash flow while improving the cosmetic appearance of the project, leasing the remaining vacancy (already done), and converting the rents from gross to net.