University of Texas at Dallas Expansion
The University of Texas at Dallas has purchased a building to support its ongoing expansion. This move is part of the university’s efforts to accommodate its growing student body and academic programs.
Last week, real estate firm Avison Young announced the sale of a 151,000-square-foot office building to the university “steps away from the main campus” at 17787 Waterview Parkway. The new building will provide the university with much-needed space for its academic and operational activities.
Building Details
The five-story building was built in 1994 and sits on a 5.2-acre property. It was formerly used by global technology firm Concentrix as its Dallas office. The building’s proximity to the main campus makes it an ideal location for the university’s expansion plans.
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Previous Owner’s Plans
The company did not return a request for comment about its plans for a new Dallas location by the time of publishing, but the city is missing from a list of the Concentrix locations on its website. This suggests that Concentrix may be relocating its Dallas office to a different location.
Property Value
Although the sale price was not disclosed, Collin County values the property at $8.3 million. This valuation provides an indication of the property’s worth and the significant investment made by the university in its expansion plans.
Renovation Plans
The university, which closed on the sale in late May, is completing a renovation of the property before moving in. The renovation work involves updating the building’s systems and infrastructure to meet the university’s needs.
“The initial work involves renovation and replacement of obsolete HVAC and other building systems. We are just beginning initial programming, so it is too early to share further details on how the building will be used,” a university spokesperson said in an email.
Transaction Details
Bruce Butler, Susan Gwin Burks, and John Bowles with Avison Young represented the seller in the transaction. The team’s expertise in real estate transactions ensured a smooth sale process for both parties.
“As one of the premier universities in Texas, UT Dallas has experienced phenomenal growth, requiring the expansion of its infrastructure,” Butler said in a statement. “This Waterview property will help support additional university academic and operational needs. UT Dallas intends to occupy the entire property after necessary modifications are completed.”
University Developments
In May, the university also selected Prabhas Moghe as its next president, succeeding Richard Benson, who held the position for nearly nine years. This leadership change is expected to bring new perspectives and ideas to the university’s growth and development plans.
Conclusion
The University of Texas at Dallas’s purchase of the new building is a significant step in its expansion plans. The university’s commitment to providing high-quality academic programs and facilities to its students is evident in this investment. As the university continues to grow and evolve, it is likely to remain a major player in the Texas education landscape.
Frequently Asked Questions
Q: What is the location of the new building purchased by the University of Texas at Dallas?
A: The new building is located at 17787 Waterview Parkway, steps away from the main campus.
Q: What is the size of the new building?
A: The new building is 151,000 square feet and has five stories.
Q: Who was the previous owner of the building?
A: The previous owner of the building was global technology firm Concentrix, which used it as its Dallas office.
Q: What are the university’s plans for the new building?
A: The university plans to use the building to support its academic and operational needs, although the specific details of how the building will be used have not been disclosed.
Q: Who represented the seller in the transaction?
A: Bruce Butler, Susan Gwin Burks, and John Bowles with Avison Young represented the seller in the transaction.
