Gladstone locks up 156,000 SF with Richardson office buy

RICHARDSON – The 155,984-sf building at 250 E. Arapaho Rd. has been sold for $24.7 million.

The two-story building is fully leased to the nation’s largest Medicare exchange, which has a lease on the property through October 2024.

Gladstone Commercial Corporation purchased the property from Peloton Capital Partners, which recently renovated the lobby, restrooms and courtyard area.

"This acquisition demonstrates Gladstone Commercial’s continued focus on acquiring single-tenant properties with solid credit in growing markets," explained Senior Managing Director Buzz Cooper.

"This acquisition brings our DFW MSA portfolio to seven properties. This is a strong, growing market and we are actively pursuing more deals in the area."