{"id":1004700297,"date":"2024-02-01T00:01:34","date_gmt":"2024-02-01T08:01:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004700297"},"modified":"2024-02-01T06:14:15","modified_gmt":"2024-02-01T14:14:15","slug":"franklin-street-sells-dfw-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/franklin-street-sells-dfw-office-asset\/","title":{"rendered":"Franklin Street Sells DFW Office Asset"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a1bdd4a3f2ba&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004700299\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/franklin-street-sells-dfw-office-asset\/collins-crossing\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Collins-Crossing-e1706691365585.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Collins Crossing\" data-image-description=\"&lt;p&gt;Collins Crossing is an office building at 1500 N. Greenville Ave.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Collins Crossing is LEED Silver certified. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Collins-Crossing-e1706691365585.jpg?w=640\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Collins-Crossing-e1706691365585.jpg\" alt=\"Collins Crossing is an office building at 1500 N. Greenville Ave.\" class=\"wp-image-1004700299\" style=\"width:370px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Collins-Crossing-e1706691365585.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Collins-Crossing-e1706691365585.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Collins Crossing is LEED Silver-certified. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Franklin Street Properties<\/strong> has sold Collins Crossing, a 300,887-square-foot office building in Richardson, Texas, with the assistance of <strong>Newmark<\/strong>. The buyers, <strong>Goldenrod Cos.<\/strong> and <strong>Reserve Capital Partners<\/strong>, also acquired an adjacent 3.6-acre parcel, which will serve as the site of a mixed-use development. <\/p>\n\n\n\n<p>Collins Crossing previously traded in 2003 for $46.6 million, when Franklin Street acquired the asset from a private owner, CommercialEdge information shows. The property was 85 percent leased at the time of the current sale.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/crefc-survey-points-to-notable-shift-in-industry-sentiment\/\">Why CREFC Survey Says Things Are Looking Up<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The 11-story building came online in 1998 and features floorplates averaging 28,550 square feet, eight passenger elevators and more than 1,150 parking spaces, along with ground-floor retail. Other amenities consist of a fitness center, conference center, green space and caf\u00e9. Tenants comprise Childress Engineering Services, id Software, VCE and Argo Data Resource, according to CommercialEdge.<\/p>\n\n\n\n<p>Collins Crossing is at 1500 N. Greenville Ave., within the Innovation Center hub, roughly 2 miles from Richardson Plaza. Downtown Dallas is 16 miles away, while Dallas-Fort Worth International Airport is 23 miles southeast. The property is also 12 miles from Parkway Centre IV, <a href=\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-sells-dfw-office-asset\/\">a 153,238-square-foot office building<\/a> that traded earlier this month.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-recent-office-deals-in-the-metroplex\">Recent office deals in the Metroplex<\/h2>\n\n\n\n<p>The Newmark team that worked on behalf of the seller included Vice Chairmen Gary Carr, Robert Hill and Chris Murphy. The trio also represented M-M Properties in the sale of Plaza of the Americas, <a href=\"https:\/\/www.commercialsearch.com\/news\/m-m-properties-sells-1-2-msf-office-building-in-dallas\/\">a 1.2 million-square-foot office property<\/a> in Dallas.<\/p>\n\n\n\n<p>Last November, a joint venture between Mirae Asset Global Investments and Transwestern sold the office component of CityLine, <a href=\"https:\/\/www.commercialsearch.com\/news\/mirae-transwestern-sell-2-2-msf-dfw-campus\/\">a 2.2 million-square-foot mixed-use campus<\/a>. That complex is some 3 miles from Collins Crossing.<\/p>\n\n\n\n<p>According to the latest <a href=\"https:\/\/www.commercialsearch.com\/news\/navigating-office-sector-transitions-in-2024\/\">CommercialEdge office report<\/a>, Dallas saw $2 billion in assets changing hands in 2023, being surpassed only by Washington, D.C. ($2.7 billion), Los Angeles ($2.4 billion) and Manhattan ($2.1 billion). The average price per square foot in the Metroplex last year was $209, slightly higher than the $196 national average.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property is under new ownership for the first time in more than two decades.<\/p>\n","protected":false},"author":3355,"featured_media":1004700299,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21783,21742,21747,51973],"tags":[32971,50999,38404],"class_list":["post-1004700297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-investment","category-latest","category-office","category-southwest","tag-franklin-street-properties-corporation","tag-newmark","tag-reserve-capital-partners"],"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>Franklin Street Sells DFW Office Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Franklin Street Properties has sold Collins Crossing, a 300,887-square-foot office building in Richardson, Texas.\" \/>\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\/franklin-street-sells-dfw-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Franklin Street Sells DFW Office Asset\" \/>\n<meta property=\"og:description\" content=\"Franklin Street Properties has sold Collins Crossing, a 300,887-square-foot office building in Richardson, Texas.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/franklin-street-sells-dfw-office-asset\/\" \/>\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=\"2024-02-01T08:01:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-01T14:14:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Collins-Crossing-e1706691365585.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\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\/franklin-street-sells-dfw-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-sells-dfw-office-asset\/\",\"name\":\"Franklin Street Sells DFW Office Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-sells-dfw-office-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-sells-dfw-office-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Collins-Crossing-e1706691365585.jpg\",\"datePublished\":\"2024-02-01T08:01:34+00:00\",\"dateModified\":\"2024-02-01T14:14:15+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"Franklin Street Properties has sold Collins Crossing, a 300,887-square-foot office building in Richardson, Texas.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-sells-dfw-office-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/franklin-street-sells-dfw-office-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/franklin-street-sells-dfw-office-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Collins-Crossing-e1706691365585.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Collins-Crossing-e1706691365585.jpg\",\"width\":640,\"height\":480,\"caption\":\"Collins Crossing is LEED Silver certified. 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