Listen To This Post
Stream Realty Partners has secured a local buyer for a two-story Plano office building with a basement showroom on the market for only 31 days.
Peacock Point LLC recently completed the purchase of 5500 W. Plano Parkway from Hacienda Care V L.P., closing within 96 days of the property being listed. Stream, a national commercial real estate firm offering an integrated platform of services, represented the seller in the transaction. Stream Dallas Managing Director Jamie Jennings and Senior Vice President Ryan Evanich served as the brokers. Pam Goodwin of Goodwin Advisors LLC represented the buyer.
“We are very pleased that Stream was able to sell the building for near full asking price and appreciate the swiftness and thoroughness of this transaction,” said Robert J. Riek, General Counsel of Hacienda Care V in a statement. “With Stream being the largest home-grown commercial real estate service provider in the Dallas area, we knew their up-to-date market knowledge and customized marketing capabilities would yield the highest-possible sales price.”
5500 W. Plano Parkway offers 30,066 square feet of rentable office space and a 7,640-square-foot basement showroom/storage area. The Class A property sits on more than 2.2 acres of well-landscaped land and features 124 covered and surface parking spaces. The building was vacant at the time of sale. Peacock Point plans to occupy the facility.
Offering easy access to Dallas Love Field and Dallas Fort Worth International airports, 5500 W. Plano Parkway is in the Upper Tollway submarket and just minutes from the President George Bush Turnpike and Dallas North Tollway. Multiple well-known regional medical facilities and global corporate headquarters are within easy reach.
“As more and more employees return to the office, Stream Dallas is seeing this submarket beginning to boom when it comes to institutional investment, new development, and corporate tenancy,” Jennings said. “5500 was a rare opportunity buy for Peacock Point. I’m glad Ryan and I were able to help Hacienda Care V find a company that will appreciate the building’s desirable location and can tap into its full potential for the future.”