Park Central 3 and 4 served as the headquarters of J. C. Penney in Dallas until purchased by McKnight in 2005. The buildings were sound structurally and well maintained; however, J. C. Penney’s departure reduced occupancy to around 30%. This created the opportunity for McKnight to add value to the buildings. In order to maintain the properties in first class condition and provide tenants with first-class space McKnight spent in excess of $40,000,000 on capital expenditures and tenant improvements. With the anticipated opening of the LBJ Freeway and the continued strengthening of the Dallas office market this project has potential for additional growth in value.