Accesso Partners put Royal Ridge, its four-building office portfolio in the Las Colinas area of Irving, up for sale.
The buildings are 100% leased, with tenants ranging from American Airlines to Honda's financial arm and Frontier Communications. The property totals over 505K SF on 46 acres near the intersection of the John W. Carpenter Freeway and the George Bush Turnpike, close to DFW airport. Building floor plates range from 40K to 70K SF, with Class-A rents.
Accesso has brought in Eastdil Secured to broker the sale, which also includes an 8.8-acre lot that could hold a building up to 130K SF, zoned for commercial office. The existing buildings' leases are set to expire in staggered fashion (average remaining term is six years), with over $80M of rent revenue remaining.
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