The Cushman & Wakefield team of Beth Lambert, executive managing director, and Diego Arroyave represented the owner, Saskaway Group, in the loan transaction. Lambert pointed out that the current post-recession banking rules and regulations can sometimes be difficult to navigate.

“Saskaway Group had a clear investment strategy for Texas Crossing,” Lambert tells GlobeSt.com. “We are happy to have had the opportunity use what we know about today's post-recession banking regulations to help secure a refinancing structure that fits into that strategy.”

MCKINNEY, TX—Texas Crossing previously served as the Blockbuster Video corporate headquarters and national distribution center. The 856,897-square-foot office and industrial facility sat vacant for two years until it was purchased by Saskaway Group in May 2014, making it the investment group's fifth acquisition in the metroplex. In 18 months, ownership leased 100% of the warehouse portion (697,149 square feet) to national credit tenants including UPS and International Paper.

Cushman & Wakefield recently secured bridge refinancing from Synovus Bank for the facility. With the new loan in place, ownership is now focused on leasing the adjoining 160,000-square-foot divisible, two-story office building. The property is considered ideal for corporate office or warehouse space and is available for immediate occupancy.

Located 30 miles north of Dallas at 3000 North Redbud Blvd. in central McKinney, the property is located in the McKinney Industrial Park and provides immediate access to North Central Expressway (US-75) and Wilmeth Road, minutes away from the Sam Rayburn Tollway (SH121) and President George Bush Turnpike.

McKinney attracts residents, visitors and businesses with tree-lined streets, diverse residential neighborhoods, educational opportunities, a robust business environment, a charming historic downtown and a strong sense of community, according to the city of McKinney. McKinney has a small-town feel with green space that is different from the urban sprawl of most cities. This small-town atmosphere may not last considering that McKinney, with a population of nearly 162,000, is considered one of the fastest-growing cities in the country.

The Cushman & Wakefield team of Beth Lambert, executive managing director, and Diego Arroyave represented the owner, Saskaway Group, in the loan transaction. Lambert pointed out that the current post-recession banking rules and regulations can sometimes be difficult to navigate.

“Saskaway Group had a clear investment strategy for Texas Crossing,” Lambert tells GlobeSt.com. “We are happy to have had the opportunity use what we know about today's post-recession banking regulations to help secure a refinancing structure that fits into that strategy.”