Saturday, May 25, 2024

Lakeside office building sold to property holdings company

Realty Capital Management, master developer of Lakeside in Flower Mound, announced Friday that it has sold a large Lakeside office building to a property holdings company out of Louisiana.

The Lakeside Professional Office, 870 International Parkway, has been sold to J & A Frith Properties, which was looking to expand its existing commercial property portfolio in North Texas, according to a Realty Capital news release. The two-story, 21,779 square foot office is currently 100% leased by Edward Jones, Wills Investments Group, Century 21 Judge Fite Company, Scroggins Law Group, Olympia Splendid USA, Compass The Sharma Group, Edge Team Technology and North Texas Vein & Vascular, which signed a lease at the end of December 2021 and will occupy the building in the second quarter of 2022.

“Being within walking distance of all the shops, restaurants, and services that the Lakeside mixed-use project offers is what attracted the office tenants to this building,” said Jimmy Archie, Managing Director of Realty Capital Management. “It is another great example of how employers are valuing the quality of life of their employees while at the office when selecting an office space for their business.”

Construction of the Lakeside Professional Office was completed in late 2019.  While leasing slowed down for a brief period during the first year of the COVID-19 pandemic, the demand picked right back up in early 2021, according to Realty Capital.

“The sale of the Lakeside Professional Office will allow us to pursue more Class-A office development opportunities in Flower Mound,” Archie said.

Mark Smith
Mark Smith
Mark Smith is the Digital Editor of The Cross Timbers Gazette.

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