Lakeside Campus, an 807,354-square-foot office property in Richardson, has been acquired by Provident Realty Advisors from Trigild. The project has recently undergone renovations and is currently 69% leased with a weighted average lease term of 3.9 years.
The seller was represented by Newmark’s Chris Murphy, Robert Hill, Gary Carr and Stephen Schwalb.
This property features a 16-story office tower and a four-story office building with structured parking. It also includes an expansive 18-acre site complete with a landscaped pond and jogging trail. Since its acquisition in 2015, over $13 million has been invested in upgrades such as a modern lobby design, state-of-the-art fitness center, full-service café and tenant lounge.
Located along North Central Expressway (US-75), the Lakeside Campus offers easy access to major corporate campuses like State Farm,
Blue Cross Blue Shield,Raytheon,and Texas Instruments as well as the University of Texas at Dallas.
In summary:
Provident Realty Advisors purchased Lakeside Campus from Trigild for $807K-SF in Richardson after recent renovations were completed on the project which is currently leased at about two-thirds capacity for just under four years on average.Newmark’s team helped facilitate this transaction.The campus boasts amenities such as structured parking,a landscaped pond,jogging trail,and buildings that are sixteen stories tall or shorter.About thirteen million dollars have gone into upgrading since it was bought five years ago including things like contemporary lobby design,state-of-the-art fitness center,a full-service café,and tenant lounge.Located near US-75,it provides quick access to popular corporate offices including State Farm,BBBS,Raytheon,TI;and UT-Dallas too!
