Investor buys FedEx Office headquarters building in Plano’s Legacy West (Video)

By   –  Senior Reporter, Dallas Business Journal

PRP LLC, a Washington, D.C.-based real estate investment firm, has acquired the two-year-old FedEx Office headquarters building in Plano’s Legacy West for an undisclosed sum.

The four-story, 263,621-square-foot office building, which includes surface parking, at 7900 Legacy Drive at the northwest corner of Legacy and Headquarters drives was built by Dallas-based KDC for the retail company FedEx Office and Print Services Inc., a subsidiary of Memphis-based FedEx Corp. (NYSE: FDX).

FedEx Office decided to move from Galleria Towers in Dallas to the northern suburb with about 1,200 employees to give it a more efficient corporate footprint in North Texas.

The investors were motivated by the opportunity to establish a significant presence within Plano’s Legacy West, said Carr, a vice chairman in CBRE’s Dallas office.

“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,” he said, in a statement.

The corporate headquarters include on-site amenities for employees, such as a fitness center, sports court, kitchen and dining facilities, conference center and a mock-up FedEx Office store on the ground level of the building.