In a nutshell
Newmark vice chairs Gary Carr, Robert Hill and Chris Murphy represented the seller, Franklin Street Properties, in the deal. Goldenrod Companies and Reserve Capital Partners purchased the property for an undisclosed amount.
Collins Crossing is an 11-story office tower located in Richardson’s Innovation Quarter, a hub for tech innovation and entrepreneurship. The property was 85% leased at the time of sale.
“Our team is proud to have advised our client in the disposition of one of Richardson’s top-performing office assets,” Hill said in a statement. “The Collins Crossing sale marks Newmark’s third office transaction in Richardson over the past four months.”
A closer look
The building spans more than 300,000 square feet and includes a full suite of first-class amenities, including an on-site deli, a tenant conference center and a fully equipped fitness center. The deal included a 3.6-acre plot of land located next to the building on which the new owners plan to build a mixed-use development, according to the news release.
