Most Of Frisco Square Just Changed Hands
Frisco Square got a major ownership shift: 213K SF of retail and Class-A office space along with 144 Class-A multifamily units just changed hands. An affiliate of Maxus Realty Trust Inc. purchased the properties. A team from CBRE arranged the sale on behalf of an undisclosed seller.
The property is near the $5B Mile, and according to CBRE Senior Vice President Jeremy Faltys, the purchase sets Maxus up to work on collaborative plans with the City of Frisco.
The office space in Frisco Square is 92% leased; the retail space is 66% leased; and the multifamily property, the Plaza at Frisco Square, is 95% leased.
CBRE Senior Vice President Evan Stone said Frisco Square is a unique investment because of its status as a live-work-play area, its location in Frisco’s rapidly expanding market and the robust job and population growth within the city.