RICHARDSON, TX--Stanton Road Capital LLC through its affiliate, SRC Waterview Owner LP, announces the acquisition of 3400 Waterview Parkway, a 202,695-square-foot class A office building located in Richardson.
More commonly known as The Points at Waterview, the property was 94 percent leased at the time of acquisition. The acquisition represents SRC's sixth investment in Texas since 2014.
"We are pleased with our recent Richardson acquisition, as it has expanded our Texas portfolio into one of the strongest submarkets in Dallas," Tim Ronan, founder and managing partner of SRC, told GlobeSt.com. "With efficient 50,000-square-foot floor plates, and the ability to provide higher-density tenants with a parking ratio of 7/1,000 square feet, we believe the property is well-positioned from a tenant retention and leasing perspective."
Developed in 1998, the four-story property is a six-time recipient of the TOBY award and features upgraded tenant amenities including a fitness facility and café. The property is located along President George Bush Tollway (SH 190) and includes additional acreage for future development.
Clint Madison and Meredith Ford of Cushman & Wakefield will serve as leasing agents for the property. Cushman & Wakefield will also provide property management services for the building.
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