Cawley Partners and GEM Realty Capital have acquired Lakeside Campus, an 812,500-square-foot, two-building office development in Richardson. Mesa West Capital provided the financing for the deal.
Simultaneous with the buy, Cawley Partners leased 400,000 square feet to RealPage, a fast-growing company that makes property management software for apartments and other rental properties.
Tim Terrell and Jeff Schweitzer with Stream Realty Partners represented RealPage in its lease. Linda Burns with Burns Development Group negotiated incentives. Bill Cawley and Addie Ludwig were the in-house leasing representatives for Cawley Partners.
Lakeside Campus sits off North Central Expressway between Campbell Road and Gallatin Parkway. Along with efficient floorplates, it offers an on-site DART stop and close proximity to both State Highway 190 and LBJ Freeway.
With half of the campus spoken for, Cawley Partners will focus on finding tenants for the remaining space. The real estate investor and developer also is making significant property upgrades.
“Lakeside Campus has been a staple in the market since it was built for Nortel in 1991,” said Bill Cawley, CEO of Cawley Partners. “The visibility from Central Expressway already sets it apart, and, once we have completed the building renovations, we believe it will be the nicest Class A building in Richardson.”
