Last July, Dallas’ Cawley Partners bought the Parkside on Legacy healthcare building in Plano’s Legacy business park, and it has now hit the market again. The 101,608-square foot, three story Class-A healthcare facility should be receiving offers later this month.
Completed in 2016 as a speculative project, in 2020 it will house Denver-based Eating Recovery Center, an eating disorder treatment facility with inpatient and outpatient services that has committed to an 18-year lease on the entire building. The property is undergoing more than $22 million in landlord and tenant improvements, allowing ERC to operate 72 inpatient beds. The organization is the only provider in the state with licensed inpatient hospital beds dedicated to treating eating disorders, and will be one of ERC’s 30 U.S. locations.
The property sits on 7.25 acres in Plano Legacy’s 2,600-acre business, retail, and residential community, which is home to J.C. Penney, Frito-Lay, PepsiCo, JP Morgan Chase and Toyota.
“This trophy property is essentially brand new,” said Gino Lollio, Managing Director, with Cushman & Wakefield’s U.S. Healthcare Capital Markets team, via release. Cushman is representing Crawley Partners in the sale of the building. “The investments being made by the landlord and tenant in this mission-critical facility makes this an attractive opportunity for the right buyer.”
Cushman & Wakefield’s U.S. Healthcare Capital Markets team members Travis Ives, Senior Director, and Scott Niedergang, Managing Director, and Dallas-based Chris Barnet, Executive Director of C&W’s Healthcare Advisory Group are part of the team representing Crawley Partners.
“The Legacy location in North Plano is at the epicenter of one of the biggest commerce and commercial hubs in the area,” Barnet said via release. “It checks all the boxes as far as access to restaurants, hotels, shopping, major highways and both airports for those working, staying or visiting the Center.”