Yup. Well, a Plano business tower has certainly raised the price ceiling for suburban real estate!
Steve Brown of the Dallas Morning News – Reports that Boston-based Intercontinental Real Estate Corp. has purchased the Legacy Tower from Trammell Crow Co. and Principal Financial. Intercontinental paid nearly $140 million, or over $400 per sf, for the two-year-old office tower, the highest per sf price ever in Dallas' northern suburbs.
The previous high point was the $120 million, $375-per-sf sale of the Encana Tower in 2012.
Located at the Dallas North Tollway and Legacy Dr., the 13-story, 342,033-sf office tower is near the $3 billion Legacy West development.