RICHARDSON, TX—Foundry Commercial and its partner, ICM, acquired the five-building office park located on Campbell Creek Boulevard, Campbell Creek Pavilion, in 2016. The 317,247-square-foot office park received a number of outdoor and building improvements following this purchase, including new roofs, HVAC equipment, new paint and a complete renovation of several interior spaces. Additionally, the asset underwent a strategic rebrand to attract creative tenants.
The investment paid off. Legrand Building Control Systems recently signed a 42,000-square-foot lease at the office park.
“When we purchased and repositioned Campbell Creek along with ICM, Legrand is exactly the type of tenant we had in mind for this improved office environment,” said Jim Wells, principal and managing director of services at Foundry Commercial. “In an increasingly crowded marketplace, we are proud to be able to offer quality tenants like Legrand an accessible, comfortable space in the heart of Richardson.”
In its new space, Legrand will provide applications engineering support for project design and installation, support for the Field Services group's start-up and commissioning of projects, and remote operations capabilities. These capabilities will enable customer service representatives to use connected services to troubleshoot, diagnose and resolve issues for customers.
“Campbell Creek Pavilion is attractive to multiple types of users because of several factors: it is well located in close proximity to a plethora of amenities, quality construction, large efficient floorplates and a robust parking ratio,” Wells tells GlobeSt.com. “Recent population and job growth in Dallas, the key drivers of demand for office space, have grown at three times the national average over the past decade, yet there is little speculative office development underway in the popular submarket of Richardson.”
Legrand's tenancy at Campbell Creek Pavilion will increase asset occupancy by more than 13%. Currently, Campbell Creek Pavilion has approximately 20,000 rentable square feet available for lease.
“We are very pleased with the progress that has been made at Campbell Creek Pavilion, including an extensive renovation, re-branding and marketing campaign, in such a short period of time,” said Bruce Timm, ICM's president and CEO. “We welcome Legrand into the building and are excited with the establishment of their new service center of excellence.”
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
