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California buyer takes Blockbuster site in McKinney

The business park near U.S. 75 was once home to the video rental firm.

A McKinney property that once served as the base for video rental firm Blockbuster has changed hands.

The former Blockbuster distribution center and office near U.S. Highway 75 in McKinney is about 20 miles north of Dallas. The property includes a 697,149-square-foot warehouse on Rosebud Boulevard that once distributed videotapes and DVDs to Blockbuster stores around the country. And for a time, Blockbuster had its headquarters in the adjoining office space.

The industrial park — called Texas Crossing — was just bought by California-based real estate investment trust Realty Income Corp., Collin County deed records show.

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The property had been owned since late 2019 by another California investor affiliated with Fenway Capital Advisors of Solana Beach.

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Built in 1997, the business park has most recently housed operations of United Parcel Service, International Paper and Southwest Airlines.

Realty Income Corp. is a 27-year-old commercial property firm that owns more than 6,500 income-generating properties in the U.S. and abroad.

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In Texas, the firm already has 831 properties with close to 12 million square feet of space.

About 10% of Realty Income’s properties are industrial real estate that total almost 28 million square feet.