California Investor Grabs Richardson Office Campus

A California-based investor has purchased a Telecom Corridor office center. The Campbell Glen II building is at 1125 E. Campbell Road east of U.S. Highway 75 in Richardson. The 210,000-square-foot building is vacant and was previously occupied by AT&T. New owner Stanton Road Capital plans to "invest significant post-acquisition capital" in the property and market the building to new tenants. Upgrades will include remodeled lobby and common areas, a new fitness center, tenant lounge and construction of a parking garage."We have been successful in repositioning office assets in the Dallas market and see great opportunity," Stanton Road founder and managing partner Tim Ronan Jr. said in a statement. "The area continues to attract top tier corporations and we believe investing capital in our amenities and upgrades will position 1125 E. Campbell to attract high-quality tenants." The building was constructed in 1996 and was sold by a Dallas-based real estate investor. Terms of the sale were not disclosed.Christopher Murphy with HFF brokered the sale. Clint Madison and John Fancher with Cushman & Wakefield are leasing the building. Stanton Road Capital is a Los Angeles-based investment management firm that has acquired more than $6 billion of commercial real estate. The company has a track record of buying Dallas-area buildings. It's largest holding in the area is the Trinity Towers high-rise on Stemmons Freeway northwest of downtown. Stanton Road Capital invests in properties in Southern California, Texas and in major Midwest markets.  Continue reading...