PLANO, TX-KBS Realty Advisors acquired the three-building, 522,043-square-foot Legacy Town Center I, II and III from a partnership that included JPMorgan Chase and Blackstone Group. Local media reports put the sales price at $113 million, making this commercial real estate transaction KBS’ largest in the Dallas-Fort Worth area.
The Legacy Town Center office complex was built in 2002 and 2006, and is located at the Dallas North Tollway at Tennyson Parkway in northwest Plano. The office complex is adjacent to various amenities, including a 400-room, full-service Marriott hotel and the Shops at Legacy.
The California-based KBS has charged CBRE’s Dallas office with the leasing and marketing of the three-building office property, with Celeste Fowden, Dennis Barnes and Burson Holman handling those activities. CBRE will also provide property management services for the commercial real estate.
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