{"id":1004108424,"date":"2014-11-26T20:33:25","date_gmt":"2014-11-27T04:33:25","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=309839"},"modified":"2022-12-08T20:14:17","modified_gmt":"2022-12-09T04:14:17","slug":"pillar-commercial-original-capital-partners-acquire-collins-square-in-richardson","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pillar-commercial-original-capital-partners-acquire-collins-square-in-richardson\/","title":{"rendered":"Pillar Commercial, Original Capital Partners Acquire Collins Square in Richardson"},"content":{"rendered":"<p><em>By Liviu Oltean, Associate Editor<\/em><\/p>\n<div id=\"attachment_309840\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/11\/Collins-Square.jpeg\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-309840\" title=\"Collins Square.jpeg\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/11\/Collins-Square.jpeg\" alt=\"\" width=\"300\" height=\"199\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Collins Square<\/p>\n<\/div>\n<p>A joint venture between Pillar Commercial and Original Capital Partners recently closed on Collins Square, a four-story, 213,864-square-foot office building located in the Telecom Corridor in Richardson. The deal was announced by CBRE Capital Markets, which represented the seller, StremCo.<\/p>\n<p>At the time of the acquisition, Collins Square was 87 percent leased to The Travelers Indemnity Co., a wholly-owned subsidiary of the Travelers Cos. The asset serves as a regional headquarters for the insurance company.<\/p>\n<p>\u201cHaving Travelers Insurance as the anchor tenant was one of the compelling reasons we selected this asset,\u201d said Manny Ybarra, Pillar Commercial founder &amp; president. \u201cWe look forward to working with the Travelers team and are equally excited about our new venture with Origin.\u201d<\/p>\n<p>\u201cWe have been very active in sourcing acquisition opportunities throughout Texas,\u201d said Bryan Sullivan of Origin Capital Partners. \u201cCollins Square provides great risk-adjusted returns, with additional upside through active asset management and select capital improvements. We are very pleased to be in this partnership with Pillar on this transaction.\u201d<\/p>\n<p>The new owners also announced plans to fully modernize the elevators, to make cosmetic changes to the entrances and to improve the landscape and common areas.<\/p>\n<p>Whereas Origin Capital Partners\u2019 portfolio is generally more spread out across the U.S., Pillar Commercial\u2019s is primarily focused on the Dallas area. It currently owns eight other office assets in the region: Search Plaza, Miyama Parkside, 6500 Greenville, 7920 and 3939 Beltline, Northcreek Place II, Chase Bank LBJ and Wells Fargo Irving.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A joint venture between Pillar Commercial and Original Capital Partners recently closed on Collins Square, a 4-story, 213,864-square-foot office building located in the Telecom Corridor in Richardson. The deal was announced by CBRE Capital Markets, which represented the seller, StremCo.<\/p>\n","protected":false},"author":1158,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21742],"tags":[],"class_list":["post-1004108424","post","type-post","status-publish","format-standard","hentry","category-dallas","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pillar Commercial, Original Capital Partners Acquire Collins Square in Richardson - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/pillar-commercial-original-capital-partners-acquire-collins-square-in-richardson\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pillar Commercial, Original Capital Partners Acquire Collins Square in Richardson\" \/>\n<meta property=\"og:description\" content=\"A joint venture between Pillar Commercial and Original Capital Partners recently closed on Collins Square, a 4-story, 213,864-square-foot office building located in the Telecom Corridor in Richardson. The deal was announced by CBRE Capital Markets, which represented the seller, StremCo.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/pillar-commercial-original-capital-partners-acquire-collins-square-in-richardson\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-11-27T04:33:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T04:14:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/11\/Collins-Square.jpeg\" \/>\n<meta name=\"author\" content=\"Liviu Oltean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pillar-commercial-original-capital-partners-acquire-collins-square-in-richardson\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/pillar-commercial-original-capital-partners-acquire-collins-square-in-richardson\/\",\"name\":\"Pillar Commercial, Original Capital Partners Acquire Collins Square in Richardson - 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