PLANO—Developer KDC of Dallas has sold its interest in The Campus at Legacy in north Plano to its current equity partner, Spear Street Capital.
KDC has had an interest in the 1 million-square-foot property since 2005, when it purchased the three-building office park from EDS. The property is 98 percent leased, reports the Dallas Business Journal.
It was the right time to sell The Campus at Legacy and redeploy resources to other value-add opportunities, said CEO Steve Van Amburgh. KDC recently announced it will develop a large $1.5 billion mixed-use development in Richardson, which will house State Farm in 1.5 million square feet of office space.
When KDC initially acquired the former EDS headquarters, the firm spent a significant amount of money, and years, redeveloping the 107-acre property.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
