Legacy Town Center I-III are three Class A office properties within Legacy Business Park, Dallas-Fort Worth’s premier business park. Legacy Business Park is home to numerous corporate and regional headquarters of Fortune 500 and 1000 companies. Totaling over 522,000 square feet of rentable space, Legacy Town Center IIII are detailed with granite-accented exteriors and lobbies appointed with granite and wood finishes. With ten-foot ceiling designs, the properties offer scenic views of Legacy Town Center and Dallas North Tollway, where over 200,000 commuters pass each day.
Located on Dallas Parkway along the Dallas North Tollway, Legacy Town Center is easily accessible by Tennyson Parkway and Dallas North Tollway. Legacy Town Center I and II were completed in 2002 and building III was completed in 2006. All three properties have earned WireScore Gold and Energy Star designations for their energy-efficiency and top performing capabilities. The property’s rent roll is comprised of a well-diversified mix of 50 tenants, reflective of industries experiencing growth in both Dallas and nationwide.
Legacy Business Park, a prominent retail, business and residential community of Plano, Texas, is a vibrant, pedestrian-oriented mixed-use community. Tenants at the property are within walking distance from The Shops at Legacy, an award-winning retail, dining and entertainment center. With an estimated draw of four million annual visitors, Legacy Town Center’s retail center is one of Legacy’s superior offering amenities, featuring a boutique cinema, sidewalk cafes, restaurants and a variety of boutique shops. Lululemon Athletica, Urban Outfitters, Starbucks Coffee and Cold Stone Creamery are a sampling of the top shopping, dining and entertainment offerings in the complex.
According to Cushman & Wakefield’s Q4 2018 Office report, the Dallas-Fort Worth market experienced a healthy finish to 2018. The population in the region increased an estimated 141,000 year-over-year, reaching a total of 7.6 million residents through the end of December 2018.
“Legacy Town Center is situated in a unique and desirable location in Plano,” said Brett Merz, senior vice president for KBS and asset manager for the property. “We are eager to strengthen our relationship with GoransonBain Ausley and Toyota and hope they will continue to enjoy the numerous amenities that Legacy Town Center has to offer.”
Bill McClung of Cushman & Wakefield represented GoransonBain Ausley, Alan Wood and Wade Clark of JLL represented Toyota Motor Credit Corporation and Dennis Barnes, Jackie Marshall and Alexandra Cullins of CBRE represented KBS in the transaction.
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended including statements relating to KBS REIT III’s ability to invest in and manage a diverse portfolio, and the performance of Legacy Town Center and of the Plano real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS REIT III’s and/or Legacy Town Center’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.