Royal Tech Center in Dallas Sold
Greenville, SC, September 2015 - On September 16, 2015, TIC Properties Management (TICPM), facilitated the sale of the Royal Tech Center in Irving, Texas. After a recently negotiated long-term extension of the tenant lease, the property sold for over $24 million. Royal Tech Center consists of two office buildings occupied by a single tenant, totaling 216,772 square feet. TICPM's affiliate, TIC Properties, acquired the building as a tenant-in-common structured investment in 2005 for $22.2 million. TICPM has since handled the asset and property management responsibilities of the property.
About TIC Properties Management:
TIC Properties Management, LLC (“TICPM”) is a full service real estate management company specializing in asset and property management of tenant in common, partnership, and investment fund owned properties. Having experienced several real estate cycles, TICPM's team of industry veterans specialize in the refinancing, leasing and disposition of properties. Our focus is the preservation of capital, increasing the value of the property and providing current income from those investments.