Tradition Senior Living Thinks Outside the Box with KONE Industrial

KONE Industrial Facility, two buildings totaling 144,128 square feet of industrial and research space in the North Dallas suburb of Allen, recently sold for an undisclosed purchase price. Tradition Senior Living LP acquired the asset.

KONE Industrial Facility is fully leased to KONE, the elevator and escalator provider. KONE uses the facility for its Americas’ supply operations, major project engineering, R&D and other product support and installation functions.

Constructed in 2016, the institutional-quality facility comprises a 121,852-square-foot industrial building with a 28-foot clear height, four dock-high doors, one drive-in door and a low office finish along with a 22,276-square-foot seven-story elevator test tower with 27 percent office finish.

Situated on 6.18 acres, KONE Industrial Facility is at 460 and 500 Century Parkway in an infill location with immediate access to Highway 75. This location provides access to two state highways, 121 (Sam Rayburn Tollway) and 161 (George Bush Turnpike). The immediate area is home to some of the most sought-after retail options in the area including Waters Creek.

JLL marketed the property on behalf of the seller, Sentinel Capital.