Wednesday, September 24, 2014

Construction kicks off on another Plano office project

The Legacy Center building will open next year.(Cawley)
Developer Cawley Partners said Wednesday that its broken ground on Legacy Center, a 4-story, 175,000-square-foot office building in Legacy business park.
The speculative office development is being build on 12 acres at the northwest corner of Legacy Drive and Hedgcoxe Road, east of the Dallas North Tollway.
Cawley Partners bought the land earlier this year from Houston-based Hines. Hines and J.P. Morgan Asset Management just sold the 7-story Plaza at Legacy building next door to a unit of Metropolitan Life Insurance.
Morrison Dilworth + Walls Architects designed Legacy Center and by Spring Valley Construction Co. is the general contractor.
Financing was provided by American Bank of Texas.
The office development is scheduled for completion next August and will be priced lower than other recent projects in West Plano, according to the builders.
“Legacy Center is the building that fills the need for tenants who want a low-cost alternative to current developments being constructed in Legacy without having to give up the amenities they prefer,” developer Bill Cawley said in a statement.
Rents will start at $27.50 per square foot, he said.
Cawley Partners is a Dallas-based firm with several projects in the works. The company has a new office buildings in development  on Dallas Parkway just north of Keller Springs.
And the developer proposes to build a 200,000-square-foot office project on Dallas Parkway south of Belt Line Road.
The announcement of Cawley Partner’s Plano project comes just a week after developer Granite Properties said it would start the next office tower in its Granite Park project on the tollway south of State Highway 121 in Plano. The 12-story, 306,000 square-foot Granite Park Five will be finished late next year.
And Trammell Crow Co. is planning to build a second office tower in the Legacy Town Center project at the tollway and Legacy Drive.