By Jeremiah Jensen
Stanton Road Capital just made a major acquisition in Richardson.
The Los Angeles-based investment management firm bought Campbell Glen II at 1125 East Campbell Road.
The firm’s founder and managing partner, Tim Ronan, Jr. cites the building’s location in the thick of one of Dallas-Fort Worth’s most active corporate relocation hot spots as the catalyst for the purchase. According to its statement, SRC has designs on a major upgrade package for the 210,000-square-foot Class-A building.
Though the cost of the upgrades weren’t disclosed. In addition to an upgraded lobby and common area finish outs, the firm plans on adding a new parking garage and an amenity suite that includes a tenant lounge, fitness center, grab-and-go food offerings, and outdoor gathering places.
“We have been successful in repositioning office assets in the Dallas market and see great opportunity with 1125 East Campbell Road. The area continues to attract top tier corporations, and we believe investing capital in our amenities and upgrades will position 1125 East Campbell to attract high-quality tenants,” said Ronan in the statement.
The purchase of Campbell Glen II is SRC’s fifth office building acquisition in the metro. It is currently vacant but was fully leased to AT&T prior to the SRC purchase.
Cushman & Wakefield’s Clint Madison and John Fancher will handle leasing for SRC. HFF’s Christopher Murphy coordinated the sale of the building.