Unique office building type that provides a less expensive alternative to conventional mid/high rise office
Texas Developments project involved the greenfield development of two Class A office buildings in Texas, USA (aka, Freeport & Legacy). The buildings constructed are unique, less expensive, have a high parking ratio & provide a cheaper office alternative to that offered by conventional mid / high rise office buildings. Both the properties were fully leased prior to sale. While the Freeport office property was sold in Dec-2015, the Legacy building was sold in August-2016 resulting in net returns of 16% over a holding period of 3 years.
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