FRISCO, TX—Buoyed by double-digit tech-sector employment growth, Dallas-Fort Worth is among the top markets for growth in both acquisitions and leases. Investors and tenants alike have chosen the metro for its widespread appeal to employees and residents.
A recent example of the investment popularity of the area is the sale of a large portion of Frisco Square, including three office buildings and two multifamily buildings, all with ground-floor retail, a Cinemark Theatre and additional land development sites. Located within a pedestrian-friendly urban mixed-use development, the offering includes more than 213,000 square feet of class-A office and retail space along with 144 class-A multifamily units. The master-planned development will encompass as much as 4.4 million square feet of office, retail, multifamily and municipal facilities in an area of 147 acres.
An affiliate of Maxus Realty Trust Inc. acquired the properties for an undisclosed purchase price. CBRE's Evan Stone, Gary Carr, John Alvarado, Eric Mackey, Robert Hill, Jared Chua, Ryan Reid, Jeremy Faltys and Nita Stewart arranged the transaction on behalf of the seller.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
