DALLAS – The FedEx office headquarters at Legacy West in Plano, near Dallas, has been purchased by PRP Real Estate Investment Management of Washington, D.C.
The seller, KDC Real Estate Developments & Investments, was represented by CBRE’s Gary Carr, John Alvarado, Eric Mackey, Evan Stone, Jared Chua and Robert Hill.
Completed in 2015 by KDC, the four-story, 263,621-SF office building was a build-to-suit for FedEx.
The building is located at the southwest corner of the Sam Rayburn Tollway (SH 121) and the Dallas North Tollway.
“This offering presented investors with an exceptional opportunity to acquire a recently constructed, state-of-the-art office asset with a stable income stream backed by the long-term commitment of a quality, investment-grade tenant,” said Carr, Vice Chairman, CBRE. “Investors were motivated by the opportunity to establish a significant presence within Legacy, one of DFW’s hottest submarkets.”