Stream Realty Sells Dallas-Area Office Building

Platinum Park. Image courtesy of Yardi Matrix

Stream Realty Partners has disposed of the 166,324-square-foot Platinum Park in Plano, Texas, to James Campbell Co. The sale was subjected to a self-financed loan, according to Collin County records. The transaction marks the first time the asset traded since it came online in 2017. The seller intends to construct an adjacent more than 10-story office tower.  

Located at 6080 Tennyson Parkway, the five-story building is Phase I of a new office campus developed on Tennyson Parkway, south of the Legacy West development. The office has easy access to the Dallas North Tollway as well as residential properties and hotels, such as the 100-key ALOFT. The tenant roster includes Hewlett Packard, BroadSoft and CMI Group, while amenities consist of a fitness center and covered parking. At the time of sale, the asset was fully leased. A team from CBRE marketed the building and worked on behalf of the seller in the transaction.

Last month, Stream Realty Partners worked with HFF to finance the construction of their 360,860-square-foot RiverSouth in Austin, Texas. The project received $122.9 million from New York Life Real Estate Investors.