McKINNEY, TX-Traxxas is relocating its headquarters from Plano, TX to Craig Ranch, a 2,200 acre master-planned community in suburban Dallas.
The company, which manufactures and sells hobby-class radio remote controlled cars, trucks and boats, will build a $12 million-plus office campus in Craig Ranch’s $575 million, 250-acre employment district. Situated on 12 acres at the northwest corner of Sam Rayburn SH121 Tollway and Stacy Road, the new office complex is the first corporate headquarters to be located in the newly announced employment district.
Traxxas’ new campus will include a 160,000- square foot to 200,000-square-foot office building, along with a distribution component, retail space and test tracks for public access. KDC has been chosen as construction manager for the four-story project, which will break ground later this year. Completion is scheduled for late 2011.
Currently, Traxxas leases flex industrial space at 1100 Klein Rd. The company plans to relocate 100 employees from its existing facility. Another 50 employees will be added by 2013.
“This is a huge departure from their old location,” says Bill Guthrey, senior vice president of KDC. “This is an opportunity to upgrade their brand and build awareness for the brand in a big way since it’s a high profile site and a unique location.”
Guthery tells GlobeSt. that Traxxas had a lot of options within the Metroplex for a campus headquarters. The Craig Ranch site offered better visibility, as well as amenities such as the Michael Johnson Performance Center, the Cooper Fitness Center & Spa at Craig Ranch, the Hospital at Craig Ranch, Dr Pepper StarCenter McKinney at Craig Ranch, The Ball Fields at Craig Ranch and The Premier Soccer Fields at Craig Ranch.
Moreover, the company received significant incentives for the move to Craig Ranch. Craig Ranch gave $500,000 in infrastructure and incentives to Traxxas, while the McKinney Economic Development Corp. gave $400,000. The City of McKinney also plans to grant tax abatements of approximately $280,000 for the project pending approval at the June 15 council meeting.
Currently, Traxxas and KDC are working on the project’s final design and budgeting, Guthery says. Traxxas’ headquarters search was headed by Trace Elrod of Jackson & Cooksey.
Craig Ranch’s employment district is the largest to be announced in North Texas in 15 years. It will consist of two components: a 160-acre corporate district with the potential to build 2 million square feet for multi-tenant office buildings and corporate headquarters and the 90-acre medical district, of which 45 percent of the acreage already has been purchased by users.
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