June 14, 2017
Liberty Mutual Insurance exercised its right to buy a new high-rise campus in the Legacy West mixed-use development in Plano, TX. The Boston-based company acquired the two office towers totaling 1.1 million square feet from Dallas developer KDC, along with adjacent vacant land that can accommodate future expansion.
Terms of the deal were not disclosed in Collin County’s deed records, but experts have valued the project at $325 million. It is expected to be one of the largest commercial real estate transactions in North Texas this year.
Designed by Dallas-based design firm Omniplan, the Liberty Mutual campus features two 19-story towers linked by a parking garage. It also includes a full-service cafeteria and dining facilities, a coffee bar, a health center with physical therapy services, and a rooftop garden.
The project is still under construction, and more than 4,000 employees will relocate later this year.
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