Guardian Texas buys Westgrove Air Plaza at Addison Airport

ADDISON – Guardian Texas Management LLC has bought Westgrove Air Plaza, a 79,481-sf property on Addison Airport-leased land, out of foreclosure from Regions Bank in an all-cash deal.

The property, at 4570 Westgrove Rd., includes 47,536 sf of office space and 31,945 sf over three hangar spaces with runway access. The property encompasses 5.37 acres of land, which includes a 1.4-acre vacant tract at Westgrove and Addison roads.

Addison Airport has nine years and eight months remaining on the original 40-year lease.

Westgrove Air Plaza was built in 1985 but is subject to substantial city-recommended upgrades because it is located within the airport’s designated planned development.