“Lincoln Legacy II is an ideal corporate location for companies wanting a class-A environment with rich amenities,” said Michael Bernstein, principal at Artemis.

The nearly 2,500-acre Legacy Business Park has evolved into a corporate epicenter, with more than 12 million square feet of headquarters and regional office space. Employers such as Toyota, Liberty Mutual and JP Morgan Chase have recently relocated major operations to the area and are expected to generate more than 20,000 jobs with a projected economic impact of $11 billion.

“We are excited to welcome Pillar Commercial and Artemis Real Estate Partners to Legacy Business Park,” said Plano mayor Harry LaRosiliere. “Their presence and quality will further enhance the vibrant business community we foster to make Plano a city of excellence.”

The partnership is acquiring Lincoln Legacy II with senior debt financing from MetLife. Curtis Jaggers with JLL secured the financing on behalf of the buyer group.

“Lincoln Legacy II is a newly constructed class-A office development. As such, there are no immediate near-term plans for additional capital reinvestment based on the quality and vintage,” Ybarra tells GlobeSt.com. “We do plan on being engaged with the existing tenant base and support these businesses as their future space needs evolve. The property is rich with amenities that include conference facilities, a tenant lounge and a premier fitness center. We remain committed towards enhancing the experience of our tenants and their respective employees by delivering exceptional customer service.”

The acquisition of Lincoln Legacy II is the third investment in less than two years for the Pillar/Artemis joint venture. In September 2016, the group acquired Duke Bridges III, a 160,000-square-foot office development located across the North Dallas Tollway from The Star, the 91-acre mixed-use development anchored by the Dallas Cowboys headquarters, and 12,000-seat training facility and event center. Last year, the partnership also acquired 8222 Douglas Ave. in Preston Center.

Of all the segments of the country, the South, particularly Texas takes the lead at 30% of the US job growth. And, the region surrounding Dallas grew its total jobs by 310,481 between 2011 and 2015, an increase of 14.2%.

To be sure, job growth is happening in both the CBDs and the suburbs. However, educated adults are increasingly city dwellers, seeking walkability, authenticity and collaboration, according to a recent trends and insights report by JLL.

As economic recovery and expansion continue across most sectors and regions, competition for talent is intensifying, increasing pressure on employers to differentiate based on location, amenities and environment. Now more than ever, it's critical that real estate investors, developers and decision-makers understand which cities and suburbs are experiencing job growth and attracting highly educated talent.

Reverse commuting unsurprisingly remains a widespread fact of life across all major regions and has increased in every metropolitan area. Reverse commuting is up 11.6% from 2011 levels, with more than 4.8 million people reverse commuting out of major cities in the 25 largest MSAs. In fact, more than half of Dallas' highly educated population commutes to the suburbs.