News
Dallas-Fort Worth Office

Libitzky Property Cos. And Sunwest Real Estate Group Bought 200K SF Of Office Space In Plano

Libitzky Property Cos. and Sunwest Real Estate Group purchased 1800 and 1820 Preston Park from Alexander & Baldwin. The properties total 199K SF of rentable, Class-A office space, and they are 81% leased. A CBRE team made up of Eric Mackey, Gary Carr, John Alvarado, Robert Hill, Evan Stone and Jared Chua represented Alexander & Baldwin in the sale.

“1800 and 1820 Preston Park presented investors with a stable, in-place cash flow and near-term upside through the lease-up of the existing vacancy as well as increasing the below-market rents upon the rollover of the existing leases,” CBRE Senior Vice President Eric Mackey said in a statement. “The property is very well-suited to office users who live in the nearby affluent neighborhoods of West Plano.”

Located on the east side of Preston Park Boulevard south of Park Boulevard, 1800 and 1820 Preston Park are in the Far North Dallas submarket, one of the hottest in the metro going into this year.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Dallas-Fort Worth Newsletters
Related Stories

JVP Development Is Betting $37M Of Its Own Money That Frisco Is Ready For Spec Office

Hedge Fund Bids $88M For Spirit Airlines' Former HQ

KKR-Affiliated Data Center Developer CyrusOne Names New CEO

Oyster Point's Second Phase Half-Leased As Kilroy Navigates Soft Lab Demand

BXP Closes In On Next D.C. Office Development As It Shrinks Assets

Clarion Under Contract To Sell 18-Story Seaport Office Tower

Oil Company Expands Again At Cash Register Building

BXP's 343 Madison Lands $1.2B Loan, Nears Deal With Equity Partner

D.C. Sues To Block HUD Headquarters Move To Virginia

Ken Griffin Completes Takeover Of Brickell Block, Setting Stage For $2.5B Megaproject

Private Equity Firm Buys Former Texas Instruments Campus For New Headquarters

DFW Office Footprints Likely To Shrink As AI Use Increases And Companies Battle For Talent