Thursday, March 12, 2015

Telecom Corridor office building sells to investor

Richardson Commons was built in the 1980s and remodeled in 2012. (DMN files)
Richardson Commons was built in the 1980s and remodeled in 2012. (DMN files)
Gladstone Commercial Corp. has purchased a Richardson office building.
The Virginia-based real estate investor acquired the Richardson Commons building at 250 E. Arapaho Road from Peloton Capital Partners.
Peloton bought the 155,984 square-foot building, which was constructed in the 1980s, and remodeled the property in 2012.
CBRE’s Gary Carr, Eric Mackey, John Alvarado and Robert Hill brokered the sale.
The office building is leased to Extend Health.
“The building’s significant capital improvements, its prominent and credit-worthy tenant, and exceptional location within a highly-desired corporate neighborhood made it very attractive to investors,” Mackey said in a statement.
Steve Brown, The Dallas Morning News