Nikko Sells HQ to Trammell Crow Unit

(To read more on the industrial market, click here.)

PLANO, TX-Nikko America Inc., considered in the hobby industry as the world’s leading manufacturer and designer of radio-controlled toy vehicles, has sold its 97,160-sf headquarters complex at 2801 Summit Ave. here. TCDFW Acquisitions LP, a subsidiary of Trammell Crow Co., purchased the property.

Under terms of the sale-leaseback deal, Nikko will continue to occupy the office and warehouse space where it has been a local fixture since purchasing the property in 1989. Buyer and seller declined to disclose the purchase price. However, area brokers familiar with the Dallas suburban office and industrial markets tell GlobeSt.com the seven-acre property probably sold in the $75-per-sf range. That would place the estimated aggregate value of the transaction at a little more than $7 million.