posted on September 09, 2011 22:23
Legacy Place I & II — a two-building, 299,005-square-foot complex — was bought for an undisclosed sum by Dallas-based L&B Realty Advisors .
The pension fund adviser group acquired the complex as an addition to its core fund, officials said. The property was purchased from JP Morgan Asset Management. It is at the southeast corner of the Dallas North Tollway and Tennyson Parkway within the Legacy Business Park.
Jones Lang LaSalle's John Alvarado, Jack Crews, Evan Stone and analyst Lauren Zimmer represented JP Morgan Asset Management.
The buildings were built in 1998-1999. The property went from being 24 percent occupied to 100 percent occupied prior to the building sale. The property was managed by Jones Lang LaSalle's Sandie Matejek and Shannon Brown.
9/1/11, Candace Carlisle, Dallas Business Journal