January 6, 2020
Rent-A-Center’s corporate headquarters building in Plano, TX has been sold to Cawley Partners. The furniture and appliance rental company disposed of the building through a sale-leaseback deal, and will occupy 60,000 square feet of the three-story, 169,170-square-foot building. The remaining space will be available in April 2021.
The new owner is planning to renovate the property at 5501 Headquarters Dr. into a multitenant office property. CBRE represented the seller in the transaction; Cawley Partners’ Addie Ludwig is handling leasing. The build-to-suit asset came online in 2007.
“The Rent-A-Center corporate office is an attractive acquisition, not only because of its prime location, but the site has the potential for future expansion. That, in addition to the Class A existing building secured by the income stream of a Fortune 1000 tenant, make this a great addition to the Cawley portfolio,” said Bill Cawley of Cawley Partners.
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