CNL's time is right for former Fossil HQ in RichardsonCNL's time is right for former Fossil HQ in Richardsonhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=20642015-01-06T09:54:00Z2015-01-06T08:00:00Z

RICHARDSON - CNL Commercial Real Estate Inc. has acquired the former Fossil Watch Headquarters near I-75 and Campbell Rd.

The property includes a 190,000-sf office building and a 130,000-sf warehouse building.

The Richardson submarket has become a "hotbed" of activity over the past year with the relocation of State Farm's two million-sf campus, a 115,000-sf relocation for Kohl's and Raytheon's corporate relocation.

CNL bought the property through a joint venture investment with CenterSquare Investment Management.

CNL intends to immediately convert the existing warehouse into a 400-space covered parking facility, thereby increasing the parking ratio from three per thousand to more than seven per thousand.

CNL will also renovate the existing single user office building into a multitenant building with new common areas suited for creative office space.

tag: DFW industrial news, DFW industrial data

Dallas-Fort Worth-Arlington
http://www.globenewswire.com/news-release/2015/01/05/695067/10114110/en/CNL-Commercial-Real-Estate-Acquires-Former-Fossil-Headquarters-Building.htmlRead more at {Source}

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