Franklin Street Buys One Legacy Circle

The investment firm picked up the Plano, Texas, office property for $53.6 million. Completed in 2008, it is located in the Legacy Town Center complex.

March 28, 2011
By Allison Landa, News Editor

Courtesy Flickr Creative Commons user peterlfrench

Franklin Street Properties Corp. has purchased One Legacy Circle, an office building in Plano, Tex. The purchase price was $53.6 million.

Completed in 2008, the property is located in the Legacy Town Center at 7500 Dallas Parkway. The complex contains 214,110 rentable square feet and is 90 percent leased.

The purchase brings Franklin Street’s total portfolio of directly owned properties to 35, comprising 6.8 million square feet. The firm asserted its optimism about the opportunities that will continue to present itself this year and plans to buy other properties.

Franklin Street is an investment firm specializing in real estate. It operates in two business segments: real estate operations and investment banking/investment services, with the majority of its property portfolio in suburban office buildings in addition to select investments in some central business district properties.