Austin's Capital Commercial Investments purchased part of the Bank of America campus in Legacy business park.
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Austin's Capital Commercial Investments purchased part of the Bank of America campus in Legacy business park.(Steve Brown)
Another big Plano office project has changed hands.
Austin-based Capital Commercial Investments bought the Bank of America building at 6400 Legacy Drive just west of the Dallas North Tollway.
The five-story, 231,479-square-foot office building is just across the street from the $3 billion Legacy West development and the Campus at Legacy West, which was built as J.C. Penney”s headquarters. The purchase includes 16 acres.
The granite-clad office building that Capital Commercial Investments bought originally housed operations for Countywide Home Loans and is part of the Bank of America complex in Legacy business park.
“The campus is four buildings, and we only purchased one,” said Capital Commercial CEO Doug Agarwal. “We are looking for a long-term tenant for the building.”
Deed records show that Bank of America sold the building.
Capital Commercial is a private real estate investment firm that has invested more than $1 billion since 1992. The company owns 16 million square feet of properties nationwide.
Capital Commercial already owns the 505 Millennium office complex in Allen and the Dallas Communications Complex in Las Colinas. The company also has the Two Hickory Center office building near LBJ Freeway and Luna Road in Farmers Branch.
With the Capital Commercial purchase of the Bank of America building, West Plano has added to its track record as the hottest office sales market in North Texas in the last year.
The latest sale was brokered by JLL”s Jack Crews, Brad Enloe and Alexis Wolfe.
It”s the third recent office building sale that JLL has arranged in Plano”s booming Legacy business park.
JLL also brokered the sale of the Lincoln Legacy One building to Equus Capital and the Lincoln Legacy II building by Pillar Commercial.
Steve Brown, Real Estate Editor. Steve covers commercial and residential real estate in Dallas-Fort Worth.
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