1201 West 15th Street Plano, TX 75075
- 294,236 Square Feet
- For Sale
Colliers International is pleased to exclusively offer to qualified investors a 100% fee-simple interest in CityView (the “Property”), located in the Dallas suburb of Plano, Texas. CityView is comprised of the Tower, a ten-story, 183,159 square foot multi-tenant office building, and two adjacent four-story office buildings (CityView Corporate Center I and CityView Corporate Center II) containing 56,668 square feet and 54,409 square feet, respectively. Strategically positioned to capitalize on the significant recent development in the Plano submarket, the time is right for CityView. CityView offers classic design, exceptional value, and a unique lease-up opportunity for value-add, opportunistic investors.
CityView, at a blended 53% occupancy, provides stable, in-place cash flow with immediate lease-up opportunities in the Tower, plus an additional 100,000 square feet of immediate availability in the accompanying buildings, CityView Corporate Center I and II. Both Corporate Center buildings were owner-occupied on a long-term basis by View Point Bank as their corporate headquarters. Upon vacating the buildings, coinciding with the Legacy Texas Bank merger in 2015, the two buildings were purchased by the current owner of CityView Tower. Consolidating the two buildings with the Tower, as originally designed, restores a true campus environment.
This presents a significant opportunity for investors, presenting one of the largest and most cost-effective contiguous availabilities in the entire Dallas-Fort Worth area with a low basis, surrounded by two of the largest job growth submarkets in the southern United States. The offering presents an exciting opportunity for investors to secure a value-add property with tremendous upside, at a significant discount to replacement cost, with a dynamic surrounding amenity base.
Property Status: Existing
Lot Size: 461736 Square Feet
Building Size: 294236 Square Feet
Area Available: 294,236 Square Feet