BH Properties Expands Texas Portfolio with Acquisition of Legacy R&D Business Park in Plano
–Follows the California-Based Investor’s Continued Investment in High-Growth Texas Markets–
Los Angeles, CA – (February 26, 2025) – BH Properties, a vertically integrated real estate investment firm with regional offices in both Dallas and Houston, has further expanded its presence in Texas with the acquisition of Legacy R&D, a premier 374,085-square-foot business park situated in the thriving Legacy submarket of Plano. This strategic investment underscores BH Properties’ commitment to acquiring high-quality assets in dynamic, high-growth markets, reinforcing its expanding footprint in the Dallas-Fort Worth metroplex.
Legacy R&D, a seven-building business campus, occupies a prime 40-acre site at 6400- 6700 Pinecrest Drive and 5212-5220 Tennyson Parkway, providing tenants with immediate access to major thoroughfares such as the Dallas North Tollway and State Highway 121. The property is strategically positioned within one of the nation’s fastest- growing business corridors, surrounded by corporate headquarters, luxury retail, and mixed-use developments.
Currently 58% leased, Legacy R&D presents a significant value-add repositioning opportunity through lease stabilization and adaptive reuse. With a flexible design that supports conversion from 100% office to office/warehouse flex space, BH Properties intends to leverage market trends favoring flex industrial to optimize the asset’s long-term value.
“Legacy R&D represents a rare opportunity to acquire a sizable, well-located asset in a highly desirable market at an attractive basis,” said Jim Brooks, President of BH Properties. “Given the strong demand for flex and industrial space in the area, we see significant upside potential through strategic repositioning and leasing efforts. We continue to build upon our 25-year investment history throughout Texas, where we own 35 properties representing nearly 5 million square feet.”
Eastdil Secured’s Dallas investment sales team lead by Elizabeth Malone and K.C. Scheipe represented the seller, while Scott Henry, Managing Director with BH Properties locally, represented the buyer. “BH Properties’ ability to close without the need for financing along with a demonstrated record of performing enabled the seller to achieve a successful outcome,” said Malone. “There were no surprises.”
Stream Realty’s Chase Lopez, James Mantzuranis, and Sam Bass in Dallas will be representing BH on leasing.
Plano remains one of the fastest-growing cities in the U.S., attracting corporate relocations and expansions due to its business-friendly environment and access to a highly skilled workforce. With a high concentration of enterprise users, the city continues to serve as a magnet for companies seeking state-of-the-art office and industrial solutions.
Headquartered in Los Angeles, CA, with six regional offices, BH Properties has been ramping up its acquisition efforts across multiple asset classes. Notable recent acquisitions include the 322,000-square-foot mixed-use Anchorage Square in San Francisco, the 335,000-square-foot Pacific Place retail mall in downtown Seattle, and the 150,000-square-foot Parkway Centre office building in Plano, Texas. With the Legacy R&D acquisition, BH Properties further strengthens its national portfolio, now spanning nearly 10 million square feet across 16 states.
About BH Properties
Founded 31 years ago, privately held BH Properties (https://www.bhproperties.com) is a vertically integrated real estate investment company specializing in value-add acquisitions and asset management across a geographically and product-diverse portfolio. The Los Angeles-based company, with regional offices in San Francisco, Phoenix, Dallas, Houston, Seattle, and Riverside, CA, continues to focus on opportunistic real estate transactions, distressed debt, gap financing, and ground leases.
