PLANO, TX-A year after announcing it would go north on the 340,000-square-foot first phase of Legacy Tower, Trammell Crow Co. is ready to begin building. The official groundbreaking on the speculative office building will take place May 30, though demolition is currently underway on a former Robb & Stuckey store on the site.
According to Trammell Crow senior managing director Denton Walker, it's a good time to go north on anything spec at Legacy Drive and North Dallas Tollway because of a 95% occupancy in the submarket, which is about 20 miles north of Dallas' CBD. Furthermore, the building's location, in Legacy Town Center, near the mixed-use Shops at Legacy, provide a good urban core, live-work-play environment.
Added to these advantages are "accessibility to infrastructure, both roads and the (Dallas-Fort Worth International) airport, and proximity to excellent schools in West Plano," Walker tells GlobeSt.com. "We think because of all these factors, this project will be a huge success."
Crow is developing the asset in partnership with Principal Real Estate Investors. HKS is the architect of record.
A second phase for this development is on the boards, though Walker says nothing will be done with a second development until the first phase is substantially leased. "It's also a nice build-to-suit site for 200,000 square feet, as well as a great speculative site," Walker adds. "It's the second-best site in Legacy – right now we're building on the best site in Legacy."
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