A California-based investor has purchased a Telecom Corridor office center.
The Campbell Glen II building is at 1125 E. Campbell Road east of U.S. Highway 75 in Richardson. The 210,000-square-foot building is vacant and was previously occupied by AT&T.
New owner Stanton Road Capital said it plans to “invest significant post-acquisition capital” in the property and market the building to new tenants. Upgrades will include remodeled lobby and common areas, a new fitness center, tenant lounge and parking garage.
“We have been successful in repositioning office assets in the Dallas market and see great opportunity,” Stanton Road founder and managing partner Tim Ronan Jr. said in a statement. “The area continues to attract top tier corporations and we believe investing capital in our amenities and upgrades will position 1125 E. Campbell to attract high-quality tenants.”
The building was constructed in 1996 and was sold by a Dallas-based real estate investor. Terms of the sale were not disclosed.
Christopher Murphy with HFF brokered the sale. Clint Madison and John Fancher with Cushman & Wakefield are leasing the building.
Stanton Road Capital is a Los Angeles-based investment management firm that has acquired more than $6 billion of commercial real estate.
The company has a track record of buying Dallas-area buildings. It’s largest holding locally is the Trinity Towers high-rise on Stemmons Freeway northwest of downtown.
Stanton Road Capital invests in properties in Southern California, Texas and in major Midwest markets.