BH Properties Acquires 297,591-SF Tollway North Office Park in Plano from KBS, Expanding Legacy Campus to 675,000 SF

BH Properties has completed the acquisition of Tollway North Office Park, a seven-building, 297,591-square-foot business park in Plano, Texas, purchasing the asset from KBS. Newmark's Dallas team represented KBS in the transaction, while BH Properties was represented internally by Scott Henry, its managing director of Texas acquisitions. Financial terms were not disclosed.

The acquisition follows BH Properties' February 2025 purchase of the adjacent R&D at Legacy campus, bringing the Los Angeles-based firm's combined ownership within Plano's Legacy Business Park to more than 675,000 square feet across 14 buildings.

Property Details and Campus Position

Tollway North Office Park sits on more than 27 acres at 6501–6513 Windcrest Drive and 5200–5208 Tennyson Parkway, immediately adjacent to BH Properties' R&D at Legacy campus. The seven single-story buildings were constructed between 1998 and 2000 and are approximately 70% leased. The campus features efficient floor plates, dedicated tenant entrances, abundant parking, and flexible building configurations designed to support office and flex space users.

The property is located within the Legacy corridor, a corporate employment center in Plano surrounded by major company headquarters, mixed-use developments, and retail destinations including Legacy West and The Shops at Legacy. AT&T's planned global headquarters is expected to bring thousands of employees to the immediate area beginning in 2028.

Strategic Rationale and Leasing Plans

BH Properties said the combined campus will operate under the R&D at Legacy brand, giving the firm a scaled position across 14 buildings in one of North Texas' established corporate corridors. The firm plans to pursue value-add leasing, targeted capital improvements, and evaluate future repositioning opportunities as occupier preferences evolve.

"This acquisition represents the culmination of a strategic investment thesis we've been executing over the past year," said Jim Brooks, President of BH Properties. "By assembling the R&D at Legacy campus with Tollway North, we're creating a uniquely scaled position in one of the nation's premier corporate corridors. We continue to see compelling opportunities to acquire well-located assets where our operating platform, leasing expertise and long-term investment horizon allow us to enhance our property values over time."

Andrew Van Tuyle, Chief Investment Officer of BH Properties, said the combined ownership creates operational flexibility that was not previously possible. "The campus appeals to a broad range of users seeking well-located and efficient space in the Legacy corridor," Van Tuyle said. "Our focus will be on thoughtful leasing, targeted capital improvements, and positioning the property to meet the evolving needs of today's office and flex tenants while maximizing long-term value."

Stream Realty Partners Partners' Chase Lopez, James Mantzuranis, and Sam Bass in Dallas will represent BH Properties on leasing at Tollway North.

KBS Disposition and Newmark Advisory

KBS, one of the nation's largest owners and operators of commercial real estate assets, sold the property as part of its ongoing asset management strategy. Newmark's Dallas team — Gary Carr, Chris Murphy, Robert Hill, and Austin Sheahan — advised KBS on the sale.

"This disposition reflects our continued focus on executing thoughtful business plans for well-located office assets," said Brett Merz, senior vice president and co-director of investment management at KBS. "Tollway North is in one of Plano's most established corporate corridors, and we appreciate the work of all parties involved in completing the transaction."

BH Properties' Growing Texas Portfolio

With the Tollway North closing, BH Properties now owns 36 properties representing more than 5.3 million square feet in Texas and more than 12 million square feet nationwide across 16 states. The firm has been active in Texas office acquisitions, including the R&D at Legacy campus — a seven-building, 374,275-square-foot property where the firm reported five headquarters leases in the 12 months following its February 2025 acquisition — and the 205,293-square-foot Park on Barton Creek in Austin.

BH Properties describes its investment focus as value-add transactions, distressed debt, gap financing, and ground leases. The single-story design, flexible layouts, tenant-controlled entrances, and parking ratios at Tollway North are consistent with the firm's stated criteria for assets with repositioning potential and current cash flow.