Stream represented buyer, OPEX Corporation, in the acquisition of the Plano location
DALLAS/FORT WORTH (April 21, 2020) — Stream Realty Partners (Stream), a full-service national real estate investment, development and services company, and OPEX Corporation, a leading manufacturer of warehouse automation, high-speed mail automation, and document management solutions, are pleased to announce the purchase of 2801 Summit Avenue in Plano, Texas from Advocare. This new facility will help accommodate OPEX’s rapid growth in the warehouse automation industry. The Dallas expansion allows OPEX to leverage the area’s diverse high-technology talent pool. In the last year, OPEX increased its worldwide staff by more than 10 percent to support this growth.
“In a time when many companies are laying off a large numbers of employees, we are fortunate to be in such demand as we continue to grow,” said Dave Stevens, CEO of OPEX Corporation. “The expansion into Dallas is a tribute to all of our hard-working employees, who are essential to the success of OPEX. This acquisition will allow us to continue adding to our workforce while also better serving our customers’ needs.”
Situated on a seven-acre property, the rear-load, Class A building is comprised of over 114,000 square feet, 43,000 of which are mezzanine office space. The property is in the heart of Plano’s research and technology zone, providing enhanced access to engineering resources.
“With the addition of the Dallas office, we are expanding our reach for engineering talent to help us develop cutting edge warehouse automation solutions,” said Alex Stevens, OPEX Vice President of Warehouse Automation. “Our team in Dallas will supplement our current product engineering team and provide us an even greater opportunity to drive innovation for our customers.”
OPEX’s World Headquarters are in Moorestown, New Jersey, and its campus houses both manufacturing and professional staff. The New Jersey operation includes two additional facilities in Pennsauken. To serve its international customers, OPEX also maintains offices in France, Germany, Switzerland, Australia and the United Kingdom.
“OPEX will be a great addition to Plano’s fast-growing research and technology submarket,” said Jason Moser, senior vice president of Stream’s Dallas office. “Our team was honored to be chosen to help OPEX expand into Texas as they continue to grow their global warehouse automation engineering capabilities.”
Moser, along with Ridley Culp of Stream’s Dallas team, brokered the purchase on behalf of OPEX. John Hendrix and Kacy Jones of CBRE brokered the sale on behalf of Advocare.