Avison Young announces sale of office/flex buildings in Richardson, Texas
Dallas-Fort Worth, TX – Global real estate advisory firm Avison Young has completed the sale of two Class B office/flex buildings totaling 73,646 square feet on 4.71 acres located at 1200-1300 South Sherman Street in Richardson, TX.
Avison Young Senior Vice Presidents John Bowles, Susan Gwin Burks, and Bruce Butler represented the seller, Arapahoe Grande Investment, LLC, an affiliate of Mohegan Capital. The buyer was Elegant Investment Group, Inc.
The two buildings are fully occupied by a single tenant who has been at the property since 2012.
“Flex buildings have become hot commodities in the DFW market as the occupancy is solid and there aren’t a lot of new assets coming online any time soon,” said Burks. “Our team secured favorable buyer interest as the asset provided a long-term single-tenant in a well-maintained flex property.”
“We are pleased to provide our client with a successful closing that delivered a strong return on investment,” added Bowles.
The property was renovated in 2018 and is located just east of Interstate 75.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers
for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2025 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 14 consecutive years.
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