Wednesday, August 07, 2013

USAA’s Plano Purchase is Big News for Legacy Business Park

USAA Real Estate’s purchase of the empty AT&T buildings in West Plano is another big win for Legacy business park.
The San Antonio-based insurance company subsidiary acquired the two-building, 255,000-square-foot corporate campus at Legacy Drive and Parkwood Boulevard.
The former telecom campus is across the road from the hugely popular Legacy Town Center.
AT&T shutdown its wireless division offices in the buildings late last year.
Built in 1999 for Cingular Wireless, the property was previously owned by HDGMansur. At one time the building housed more than 900 telecom workers.
Real estate brokers say that USAA plans to occupy most of the property for its own offices.
The sale is the latest in a string of office building transactions in the West Plano business district.
In February, developer KDC sold out of its Campus at Legacy office park on Legacy Drive.
And of course last November’s $120 million sale of the Encana office tower in Legacy on the Dallas North Tollway set a record price for such deals in the Dallas area.
There’s no word yet on how much USAA paid for the two AT&T buildings.
“There are some markets we really like. We like Legacy,” USAA Real Estate CEO Pat Duncan said at this morning’s Real Estate Council breakfast.
More info at: Dallas News
Author: Steve Brown