The University of Texas at Dallas has purchased a building to support its ongoing expansion.
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 five-story building was built in 1994 sits on 5.2-acre property. It was formerly used by global technology firm Concentrix as its Dallas office.
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D-FW Real Estate News
The company did not return a request for comment about its plans for a new Dallas location by time of publishing, but the city is missing from a list of the Concentrix locations on its website.
Although the sale price was not disclosed, Collin County values the property at $8.3 million.
The university, which closed on the sale in late May is completing a renovation of the property before moving in.
“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.
Bruce Butler, Susan Gwin Burks and John Bowles with Avison Young represented the seller in the transaction.
“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.”
In May, the university also selected Prabhas Moghe as its next president, succeeding Richard Benson, who held the position for nearly nine years.