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Texas  + Dallas-Fort Worth  + Office  | 
Legacy R&D Portfolio

Legacy R&D Portfolio Sale Reflects Demand Uptick

The Legacy R&D portfolio, a 374,085-square-foot campus-style business park located in Dallas/Fort Worth’s Legacy submarket, recently sold for an undisclosed price. The portfolio is 85 percent leased.

The business park is comprised of seven single-story buildings with office and R&D space, and surface parking at an above-market ratio of 6/1,000 per square feet. Completed between 2006 and 2012 on 40 acres at Tennyson Parkway and Pinecrest Drive in Plano, the buildings feature significant clear heights, dedicated exterior entrances to tenant suites and no shared HVAC system.

Newmark’s Gary Carr, Chris Murphy, John Alvarado, Robert Hill and Chase Tagen represented the seller.

“This sale reflects the significant uptick in demand we have seen from tenants and investors alike for single-story research and development space with existing healthcare and life science tenancy, providing a strong base for future repositioning towards these niche product types,” said Murphy. “Competitive interest in the Legacy R&D portfolio was also driven by the property’s expansive site, unique building features and exceptional Legacy address.”

The portfolio is near the Dallas North and Sam Rayburn tollways, Dallas/Fort Worth International Airport and Dallas Love Field.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Sale/Acquisition
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