DALLAS--Buchanan Street Partners has acquired Richardson Office Center I & II, a 238,301-square-foot campus located in Richardson.

Buchanan Street acquired the property in partnership with CarVal Investors from Principal Real Estate Investors for an undisclosed amount and plans to complete minor upgrades. This is Buchanan Street's second purchase in the greater Dallas area this year.

“The Far North Dallas submarket has been experiencing strong positive absorption and growth in rental rates causing a wider-than-normal price gap compared to Richardson,” says Matt Haugen, assistant vice president at Buchanan Street Partners. “Given that trend, the location was one of the main reasons we were attracted to the property. Companies in search of a better real estate value have moved to Richardson because of its affordability and projected growth.”