Plano I

Asset type: Office Building · Location: Plano, Texas

Capital Commercial Investments, Inc. (“CCI”) acquired 6400 Legacy Drive for $31,250,000 ($134/SF). The building represents a five story 232,619 SF class A office building in the heart of premier Legacy, Texas, one of the most desirable neighborhoods for Fortune 500 corporations in Texas (the “Property”). The Property sits on a well-positioned 16.1-acre site (site is likely worth approx. $30 million) just off the hard corner of Dallas North Tollway and Legacy Drive, across the street from Toyota’s brand new 2.1MM SF, 100-acre campus completed at a cost of over $500/SF. Built in 1987 and currently occupied by Bank of America, the Property benefits from its spacious atriums and high-quality finishes consistent with occupancy by one of the largest banks in the world. The Property is being acquired for $31,250,000 ($134/SF), a value less than half of replacement cost. Due to the its low basis, CCI believes this opportunity is positioned significantly ahead of the competition in the marketplace given the property’s construction quality and highly visible location. The property’s compelling economics affords CCI the ability to lease the remaining vacancy at or below-market rates.