June 29, 2016
Foundry Commercial and capital partner ICM Realty Group acquired the 317,000-square-foot Campbell Creek Business Park in Richardson, TX, a Dallas suburb. The seller was Granite Properties, which developed the five-building office park in the mid- to late-1990s.
The sales price for the 22-acre asset on Campbell Creek Boulevard was undisclosed. The Dallas Central Appraisal District valued the property at approximately $21.5 million. The new owners plan capital expenditures on landscaping and building improvements. They will also rename the asset Campbell Creek Pavilion within the next several months.
Foundry Commercial is no stranger to Richardson, having acquired and renovated 2280 Greenville Ave. within the past year. The company subsequently leased the entire building to Geico in a long-term deal.