RICHARDSON - A two-building office complex at 3001 and 3101 E. President George Bush Turnpike has been bought by California-based Buchanan Street Partners.
The Richardson property — called Richardson Office Center I and II — totals 238,301 sf.
Buchanan Street Partners plans to make some minor upgrades to the property's lobbies and exteriors of the buildings.
The property is 90 percent leased to tenants including Boeing, Avnet and Genpact.
Richardson's average lease rate is $19.26 per sf, which is affordable compared with lease rates in the Far North Dallas submarket with an average lease rate of $22.46 per sf, according to CBRE research. The average lease rate in Dallas is $21.68 per sf.
Click to see the full CBRE Dallas Office Marketview 2Q 2015 (PDF).
Click Dallas-Fort Worth Market Research and Dallas-Fort Worth NewsTalk.
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