Maxus Realty Pays $53M for Part of Frisco Square

Developers of Frisco Square in Frisco, TX, sold part of the development to Maxus Realty Trust Inc. The Kansas City, MO-based buyer acquired more than 213,000 square feet of office and retail space, 144 apartments and vacant land for additional development for north of $53 million, according to local media reports. The portfolio featured three office buildings, two multifamily buildings and a Cinemark Theatre.

CBRE’s Evan Stone, Gary Carr, John Alvarado, Eric Mackey, Robert Hill, Jared Chua, Ryan Reid, Jeremy Faltys, and Nita Stewart arranged the transaction on behalf of the seller. Frisco Square is at the Dallas North Tollway and Main Street, adjacent to city hall.

The property’s office space is 92% leased, and its retail space is 66% occupied. Additionally, the Plaza at Frisco Square apartment complex is 95% leased.

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