January 3, 2019
Equus Capital Partners Ltd. now owns the 207,834-square-foot Lincoln Legacy One office building in Plano, TX. The Pennsylvania buyer shook hands on the transaction with seller PPC Land Ventures Inc. of Dallas for the 40%-occupied building at 6860 Dallas Pkwy. in the far north Dallas submarket.
The new owner will shortly begin a multimillion-dollar repositioning program, and has already renamed the property Gateway at Legacy. Additionally, Equus will be upgrading the lobby, and adding a fitness center and tenant lounges and collaboration areas. The building delivered in 2006, and is assessed at $54.4 million.
“The Gateway at Legacy transaction provides the opportunity to acquire a best-in-class office asset located within the highly-desirable Legacy Town Center,” said Equus’ Kyle Turner. “With a planned multi-million-dollar capital improvement program . . . our goal is to reintroduce the property to the marketplace as a top-tier first class office building in terms of functionality and operational efficiency.”
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