Dayton Street Partners Buys Richardson High-Tech Factory for $68.6M
Dayton Street Partners (DSP) has acquired a 65-acre, four building, high-tech manufacturing and distribution campus from IT Services company Fujitsu in the Dallas suburb of Richardson. The sale was financed using a loan worth $68.6 million.
Upon close, Fujitsu signed a leaseback for 10% of the 845,000-square-foot campus while Celestica, a multinational electronics manufacturing services company aligned with Fujitsu, executed a lease for 672,588 square feet. The remaining 90,000 square feet is a single-story industrial facility that the seller vacated at close. Dayton Street Partners will immediately begin a significant renovation and repositioning of the building. The project is located just off the 190 Business Corridor.
In addition, DSP plans to develop a 240,000-square-foot warehouse/distribution center on nine acres of unimproved land. Completion is expected in early 2024.
DSP’s Howard Wedren said, “This acquisition falls in-line with DSP’s mission to acquire and develop high-barrier to entry logistics real estate across the U.S.”
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.