Saskaway Management Group has acquired Blockbuster’s former headquarters and distribution center in McKinney. The 888,096-square-foot center was sold by C-III Asset Management LLC, a subsidiary of C-III Capital Partners.
NAI Robert Lynn’s Dave Peterson, Rick Medinis, and Mark Miller represented the seller in the deal.
“In such a competitive market, we have not seen many industrial deals larger than 400,000 square feet, so we are proud to be among those few deals still being closed in the current market,” said Peterson, in a statement. “This location, once suitable for the biggest movie distributor in America, will have no problems being leased by future tenants. There are many desirable amenities that make the center a great fit for several distribution companies in the area, and we expect to see tenants move in fairly quickly.”
The project, which sits at 3000 Redbud Boulevard on nearly 50 acres of land and has been vacant for two years, includes office space and a data center. The project already has a new tenant, with UPS just signing on for 215,000 square feet.