Plano Business Park
3801, 3901, 500 & 600 Campus Drive, Plano, TX 07932
Property Overview
KBS REIT II was able to capitalize on this investment by acquiring a recently built, three-building state-of-the art facility at a time when there were not as many buyers in the market for this product type. Capital improvements were minimal for this Class A, ESFR-sprinklered asset. KBS REIT II maintained the property’s peak operating condition throughout its ownership. The property was above 90% occupied throughout most of the hold period and 100% occupied at the time of sale. The property featured a variety of large and small unit sizes which made it a very easy asset to market and allowed for some tenant expansion. KBS REIT II was able to sell the property for $23.35 million.
Investment at a Glance
Location: Plano, TX
Property Type: Industrial
Investment Type: March 15, 2010
Purchase Price: $16,750,000
Sale Date: June 16, 2014
Sale Price: $23,350,000
No. of Buildings: 3
Square Footage: 283,559 SF
Leased Percentage (at the time of Acquisition): 94.2%
