DALLAS (Oct. 25, 2017) – Stream Realty Partners (Stream) – a national commercial real estate services, development and investment firm, announces the sale of the Jupiter Service Center, a four-building flex office/R&D portfolio consisting of 126,485 square feet in Plano.
Jupiter Service Center offers varied product types, and a diverse range of suite sizes. Located on nine acres in east Plano at the intersection of Jupiter Road and 10th Street in the Plano Industrial Submarket, the properties are less than a mile north of the President George Bush Turnpike, providing excellent infrastructure access.
Stream’s Investment Sales team of Jamie Jennings, managing director and James Mantzuranis, vice president and leasing brokers, Matt Dornak, vice president; and Ryan Wolcott, vice president; represented the seller, Situs, in the disposition. The purchaser in the transaction was Kennington Property Company.
“These properties offer the buyer the opportunity to build its portfolio with more assets in one of the most sought-after, growing segments in Dallas-Fort Worth,” said Jamie Jennings of Stream. “The Plano/Richardson submarket ended the fourth quarter of 2016 with an overall vacancy rate of 6.2 percent.”
Ranked as the 5th largest Industrial Market nationally, the Industrial Real Estate Market in Dallas/Fort Worth is extremely healthy, boasting a current vacancy rate of approximately 6.5 percent. the D/FW Office Market has posted strong positive net absorption over the past five years, with 2.77 Million square feet absorbed as of 4Q 2016.
For additional information on any opportunities we currently have on the market, please contact one of our team members or visit http://streamrealty.com/investmentsales/.