Parkway Center Five is located in Parkway Business Center, Phase I. A CapRock principal was involved in all aspects of the financing, design, construction, leasing, and disposition of this Class A asset.
The Class A 80,878 square foot industrial facility was designed and built in 2000 to accommodate the needs of a higher image industrial tenant. The building is situated on a 5.72 acre site and provides an extensive glass line for image conscious users and an above standard allocation of parking with a parking ratio of 3.98/1,000.
The facility was leased to REMEC, a designer and manufacturer of high frequency subsystems used in the transmission of voices, video and data traffic over wireless communication networks. At the time of lease execution and subsequent sale REMEC was a Nasdaq listed company (NASQAQ: REMC). The facility sold to an investor in 2001 for $10,500,000.