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1/26/24
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BH Properties acquired Parkway Centre IV, a 153.2k sf office building located along the Dallas North Tollway in Plano, TX. Purchased from an investment entity of Goldman Sachs, the property boosts the Los Angeles-based investment firm holdings in Texas to 32 properties representing 4.6 msf. The price was not disclosed.
Built in 2006, Parkway Centre IV recently underwent more than $2 mil in renovations and is strategically located along West Plano’s Dallas North Tollway Corridor, which is home to such companies as Toyota North America, J.P. Morgan, PepsiCo, and Liberty Mutual. Parkway Centre IV is institutional in quality and highly visible from the tollway. The six-story office property offers a two-story atrium lobby, numerous amenities, and an abundance of surface and covered parking.
“Parkway Centre IV is a true Class A property which has all the attributes tenants are expecting today including $2 mil in renovations that introduced a new tenant lounge, conference room, “grab & go” food service, and a number of other building upgrades including covered parking. We saw this as a great opportunity to expand our portfolio in a growing market with terrific regional access, and a quality tenant base,” said Jim Brooks, President of BH Properties.
Newmark’s Dallas investment sales team, led by Gary Carr and Chris Murphy, represented the seller. Scott Henry, Managing Director with BH Properties locally, represented the buyer.
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