The Patel Law Group, PLLC has acquired a 30,694-square-foot office building located at 1125 Executive Circle under its asset ownership group, 1125 Executive, LLC. The building is situated in the heart of the office center in Las Colinas.
Kyle Jacobs and Daniel Miller with Rubicon Representation represented the buyer, The Patel Law Group PLLC, a law firm and closing office for Fidelity National Title. PLG will relocate their office to the property from Colonial Plaza. The seller, American College of Emergency Physicians, was represented by Bruce Hecht and Ben Goldthorpe of Swearingen Realty Group.
The Patel Law Group, PLLC, under its asset ownership group, plans to renovate the lobby, install a monument sign on the corner of Executive Circle and Corporate Drive, add 23 carports in the parking lot, as well as utilize the existing 3,000 square foot training room for a common tenant conference lounge. This lounge will be open to all tenants in Las Colinas. PLG has long wanted to own its real estate and when this opportunity presented itself, they couldn’t pass it up. “We have been blessed to be a part of the Irving/Las Colinas community for 10 years and we are excited to now own and manage our own building in Las Colinas. This is a great opportunity for our law firm and closing office, as well as future tenants we hope to attract to our renovated building.”, said Rakesh Patel, Managing Partner.
The office building was built in 1982 by American College of Emergency Physicians, who has occupied the entire building until moving into their new campus along 114 earlier this year. This will be the first time that 1125 Executive Circle has been available for lease. Rubicon Representation will handle leasing the first-floor vacancy that has 3,000 to 14,000 rentable square feet available and can accommodate a healthy 4.5/1000 parking ratio. “We are extremely excited for The Patel Law Group to relocate their legal and title closing to 1125 Executive Circle. With the dramatic increase in rental rates in the Urban Center and Office Center, coupled withall the amenities located along MacArthur Blvd, we feel this building offers tenants a great option in the Las Colinas market.”, said Daniel Miller, Vice President at Rubicon Representation.
The location of 1125 Executive Circle is a block away from one of the most heavily traveled roads in Las Colinas. MacArthur Boulevard is the main hub for amenities in the Las Colinas market, with a plethora of restaurants, grocers, convenience stores and shopping centers spanning from south of 114 north into Coppell.
