Office/Warehouse Sells to Light Industrial Buyer
Prattco Creekway Industrial (PCI) acquired an 83,140-square-foot office/warehouse at 1501 N. Plano Rd. in Richardson, TX. PCI acquired the asset for an undisclosed price. The property was valued at $2.7 million, with the seller identified as STP 1501 Plano Rd. Ltd., based in Addison, TX.
The new owner, which is in the market for light industrial projects, is planning to renovate the property and fill up the 34,000 square feet of vacant space. Lance Bozman with PCI said his company liked the particular submarket because of the diversification and revitalization of the area, which is in a suburb of Dallas. Also attractive was the stability and creditworthiness of the existing tenants, he added.
Younger Partners’ Bryon McCoy and Garrett Marler will handle the leasing. “We anticipate strong interest by tenants looking for creative, open, collaborative space,” McCoy said.
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