KBS Sells 297,591 SF Tollway North Office Park in Plano
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- Disclosed office deal value tracked in October 2026: $2.2B across 5 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
PLANO, TEXAS — California-based investment firm KBS has sold the 297,591-square-foot Tollway North Office Park in Plano. The seven-building campus spans approximately 27 acres within Legacy Business Park and can suppo…
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