Investor bought McKinney office building

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An office building at McKinney’s Craig Ranch has been sold to investors.

The McKinney I corporate center is located on Weisskopf Avenue just north of State Highway 121.

Completed in 2013, the building includes over 120,000 square feet of leased space to tenants including Cotiviti Healthcare.

The properties were owned and sold by VanTrust Real Estate.

The building has now been sold to real estate investor Orangestar Property Advisors, which has offices in Plano and Ohio, county documents show.

The acquisition was funded with a $ 19.2 million loan from Veritex Community Bank.

New owner Orangestar has been in business since 2014 and was created to pursue real estate opportunities in Texas, Ohio, Pennsylvania, California, Florida and Colorado. The investor already owns offices in McKinney, Allen, Plano and Frisco.

The McKinney I corporate center is located in the fastest growing commercial district of McKinney. The 2,200-acre Craig Ranch community began two decades ago primarily as a residential complex and now has about 4,500 single-family homes.

But the developers recently announced plans to increase the number of office and mixed-use projects in the community along SH 121.

New office buildings on Craig Ranch are under development by KDC, VanTrust Real Estate, Kaizen Development Partners and KOAR Institutional Advisors.

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