An eight-story office building in Plano’s Legacy corridor will undergo a multimillion-dollar renovation now that it has been sold to Equus Capital Partners, the investment firm said.
The Pennsylvania-based company announced Jan. 2 in a statement that it had purchased the 208,000-square-foot Plano property and would rebrand it as the Gateway at Legacy. The property is located southwest of where Tennyson Parkway meets the Dallas North Tollway.
The building, constructed in 2006, was 40 percent leased at the time of the purchase, the company said.
“The Gateway at Legacy transaction provides the opportunity to acquire a best-in-class office asset located within the highly desirable Legacy Town Center,” Kyle Turner, vice president and director of investments at Equus, said in the statement. “With a planned multi-million-dollar capital improvement program, including the addition of a modern amenity package, our goal is to reintroduce the property to the marketplace as a top-tier first class office building in terms of functionality and operational efficiency.”
The improvements include an upgraded lobby, a fitness center addition, new tenant lounges and collaboration areas, according to the release.