DALLAS — PRP Real Estate Investment Management, based in Washington, D.C., has acquired the FedEx office headquarters located in the Legacy West development in Plano, part of the Dallas–Fort Worth metroplex.
Seller KDC Real Estate Developments & Investments was represented in the transaction by a CBRE team led by Vice Chairman Gary Carr, along with John Alvarado, Eric Mackey, Evan Stone, Jared Chua and Robert Hill.
Constructed in 2015 by KDC as a build-to-suit for FedEx, the four-story, 263,621-square-foot office building provides a modern, purpose-built headquarters for the tenant. The property sits at the southwest corner of the Sam Rayburn Tollway (State Highway 121) and the Dallas North Tollway, a prominent intersection within the fast-growing Legacy submarket.
“This offering presented investors with an exceptional opportunity to acquire a recently constructed, state-of-the-art office asset with a stable income stream backed by the long-term commitment of a quality, investment-grade tenant,” said Gary Carr of CBRE. He added that investors were attracted to the chance to establish a significant presence in Legacy, one of the most active submarkets in the DFW area.
The sale underscores continued investor interest in well-located, modern office properties leased to strong corporate tenants. Legacy West, known for its mixed-use development of offices, retail, dining and residential options, remains a key destination for corporate headquarters and institutional investment.