September 14, 2021
By Lisa Brown
Accesso and Partners Group, acting on behalf of its clients, have sold the Royal Ridge four-building office complex in Irving to affiliates of Menlo Equities. The sale includes an adjacent 9-acre parcel that is approved for commercial office development.
Royal Ridge is a 505,948-square-foot campus within the Las Colinas submarket. It was built from 1998 to 2000 and Accesso has owned the property since 2012.
“We are proud of the significant value we’ve created at Royal Ridge and are pleased to transfer ownership of this property to a highly respected owner-operator in Menlo Equities,” said John Rivard, chief investment officer for Accesso. “Through strategic capital improvements, we have created a desirable flagship in the Irving market. This has allowed us to attract and retain credit-worthy brands such as Michaels Stores, which relocated its headquarters to our campus last year, and Honda, which expanded to nearly 100,000 square feet at the property earlier this year. We look forward to continuing to identify opportunities where we can leverage our operational expertise to unlock embedded value in high-quality properties in the Dallas region and beyond.”
Todd Savage and Andrew Levy of JLL represented Partners Group and Accesso in the transaction.