RICHARDSON (CNL Commercial Real Estate) – CNL Commercial Real Estate Inc. of Orlando has acquired the former Fossil Watch Headquarters building through a joint venture investment with CenterSquare Investment Management.
The acquisition includes a 190,000-sf office building and a 130,000-sf warehouse building. The buildings are near I-75 and Campbell Rd.
CNL plans to convert the warehouse into a 400-space parking garage and renovate the single-user office building into a multitenant building.
This marks CNL's first acquisition in the Metroplex through its recently created CCRE Sponsor Equity Fund I.
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