Dallas-based Stream Realty Partners has partnered with Goddard Investment Group to acquire Waterview Place I & II. The 230,000-square-foot campus, which currently is vacant, was acquired through a Collin County foreclosure sale. It previously served as the corporate headquarters for Alliance Data Systems.
Ramsey March and Matt Wieser, vice presidents for Stream Realty Partners, will oversee property operations and management.
The partnership with Goddard is a good match, Wieser said. “We intend to commit the capital and resources necessary for the property to compete for large users considering the Dallas-Fort Worth market,” he said.
First up: Rebranding. The complex has been renamed Waterview 190, in reference to its close proximity to State Highway 190. (The property is located at 17655-17657 Waterview Parkway.) Along with building renovations, Stream plans to expand parking capacity to seven spaces per 1,000 square feet.
Chris Jackson, regional managing partner at Stream, said market fundamentals support such an acquisition in the Richardson submarket.
“This project is well positioned to capitalize on the demand for highly functional corporate office space we see in that area,” he said.