Former Blockbuster HQ Finds Bridge Refinancing

Texas Crossing, the 856,897-square-foot office and industrial facility, sat vacant for two years.

MCKINNEY, TX—Texas Crossing previously served as the Blockbuster Video corporate headquarters and national distribution center. The 856,897-square-foot office and industrial facility sat vacant for two years until it was purchased by Saskaway Group in May 2014, making it the investment group’s fifth acquisition in the metroplex. In 18 months, ownership leased 100% of the warehouse portion (697,149 square feet) to national credit tenants including UPS and International Paper.

Cushman & Wakefield recently secured bridge refinancing from Synovus Bank for the facility. With the new loan in place, ownership is now focused on leasing the adjoining 160,000-square-foot divisible, two-story office building. The property is considered ideal for corporate office or warehouse space and is available for immediate occupancy.