Plano office park sells to New York investor

Dallas Morning News

June 7, 2021

By Steve Brown

Seven buildings are included in the Legacy business park sale.

A New York investor has snapped up seven buildings in Plano’s Legacy business park.

A fund controlled by DRA Advisors LLC bought the Legacy R&D campus on Tennyson Parkway in Plano. The seven-building office and research center contains more than 374,000 square feet of space and was built between 2006 and 2012.

The buildings were sold by Florida-based investor Accesso, which has owned the properties since 2012.

“We are pleased with the execution of the sale of this property, and we look forward to continuing to work with DRA Advisors, a company we know well and have transacted with previously, as we continue to manage the property,” Accesso’s Alex Romero said in a statement. “This single-story office product has seen increased demand from tenants following the pandemic, and we were able to capitalize on a highly competitive process to provide a strong return to our investors.”

Terms of the sale were not disclosed.

Newmark Group’s Gary Carr, Chris Murphy, John Alvarado and Robert Hill brokered the sale.

Accesso still owns several Dallas-area office properties.

Buyer DRA Advisors owns a large portfolio of Dallas-Fort Worth office and industrial buildings.