Transwestern Represents Building Owner, Regent Properties, in the Transaction
August 13, 2019
Dallas – Transwestern Commercial Services (TCS) today announces Ribbon Communications (NASDAQ: RBBN) has signed a long-term lease for 110,000 square feet at the Legacy Central campus in Plano, Texas. TCS Senior Vice President Nathan Durham and Managing Director Duane Henley provided office leasing services on behalf of the building owner, Regent Properties.
“We are extremely excited to welcome the Ribbon team to our growing list of high-quality tenants,” said Matthew Benbassat, Chief Operating Officer at Regent Properties. “We trust that the unrivaled amenities and collaborative outdoor space will provide Ribbon an amazing workplace environment for many years to come.”
Legacy Central is a 950,000-square-foot, Class AA campus spanning 85 acres at the intersection of Central Expressway and Legacy Drive. The property features a 24,000-square-foot fitness center operated by LifeStart that includes a full, indoor basketball court and competition-length swimming pool. It also provides tenants with a 10,000-square-foot conference center and a 400-seat food hall operated by Bon Appetit.
Relocating from 3605 E. Plano Parkway approximately 5 miles away, Ribbon Communications was attracted to the campus environment with abundant amenities to aid in the company’s efforts to recruit and retain top talent in the technology sector.
“This new lease reinforces our long-term commitment to the Dallas region and provides us with not only a first-class facility that is perfect for retaining and attracting top tech talent, but also an ideal location to host our global customers and partners,” said Doug Carles, Vice President of Global Real Estate, Ribbon. “In addition to the modern, Class A office space, Ribbon is building out a state-of-the-art research and development lab and customer support center, through which multiple products and solutions are developed and supported. This facility will allow us to better serve and support our global customer base from one of the most centrally-located, vibrant technology hubs in the world.”
Ribbon Communication joins notable tenants at Legacy Central, including Samsung, Peloton, Spaces, Roland Technology Group and Adroit Health Group. The campus is comprised of four office buildings and a multifamily community by Trammell Crow Residential, with plans for a second apartment complex, a hotel, and additional restaurants and retail. It currently has 410,000 square feet of office space for lease.
Plano is a premier location in North Dallas providing businesses access to a highly skilled and educated labor pool. Approximately 30 miles from the Dallas-Fort Worth International Airport, Plano has attracted some of the world’s largest corporations. It’s location and workforce position the commercial real estate market to continue performing well.
Baron Aldrine, Steve Rigby and Layne Mayfield of CBRE provided the tenant representation.
ABOUT TRANSWESTERN COMMERCIAL SERVICES
Transwestern Commercial Services (TCS) is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service and innovative client solutions. Applying a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets and Research, our fully integrated global organization adds value for investors, owners and occupiers of all commercial property types. We leverage market insight and operational expertise from across the Transwestern enterprise, which includes firms specializing in development and real estate investment management. TCS has 34 U.S. offices and assists clients from more than 200 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore. Experience Extraordinary at transwestern.com and @Transwestern.
ABOUT REGENT PROPERTIES
Headquartered in Los Angeles, California, Regent Properties was established in 1989. Over the past 30 successful years, Regent has evolved from the real estate arm of the Kohl family office to a multi-faceted real estate investment management platform. The current principals of Regent have a collective 65 years working collaboratively together at the Company. Regent and its principals have acquired, developed, financed and/or managed over $3 billion in real estate transactions nationally, encompassing more than 22 million square feet of retail, commercial, residential and mixed-use projects and 13,000 acres of master planned communities representing 31,000 lots. Regent’s assets under management total greater than $1 billion.
ABOUT RIBBON COMMUNICATIONS
Ribbon Communications Inc. (Nasdaq: RBBN) delivers market-leading software solutions that secure and power many of the world’s leading service provider and enterprise communications environments. Built on world-class technology and intellectual property, the company’s cloud-native solutions deliver intelligent and secure real-time communications solutions for the cloud, network and enterprise edge. Ribbon’s Kandy Cloud real-time communications software platform delivers advanced and embedded CPaaS and UCaaS capabilities enabling service providers to rapidly create and deploy high-value communications services.
With locations in more than 25 countries and on six continents, Ribbon’s innovative, market-leading portfolio empowers service providers and enterprises with carrier-grade real-time communications solutions, along with a new level of security that runs in their network infrastructure, data centers and private cloud, or in the public cloud.