Wednesday, November 12, 2014

LegacyTexas Bank takes three floors in former Encana tower

An empty West Plano office tower that’s been hunting tenants has signed its first major lease.
LegacyTexas Bank is renting the top three floors in the former Encana Oil & Gas tower on the Dallas North Tollway in Legacy business park. The high-profile commercial real estate deal has been in the works for several months.
The Plano-based banking firm made a 78,705-square-foot long-term sublease in the 12-story high-rise, commercial real estate firm JLL said Wednesday.  LegacyTexas Bank is the first company to land in the 300,000-square-foot office building, which has been renamed Plano Tower.
The building became vacant when Canada-based Encana last year decided to discontinue its Plano operations.
LegacyTexas Bank plans to relocate its headquarters to the tower in the next few months.
LegacyTexas Bank’s current head offices are located on Preston Road at Legacy Drive. It recently merged with another Plano-based banking firm, ViewPoint Bank, which has offices on 15th Street in Plano.
The combined companies have more than 50 branches and about $5 billion in assets.
Centurion Real Estate Partners’ Ben Sumner negotiated the lease with Greg Biggs, Doug Carigan, Torrey Littlejohn and Marc Feldman of JLL.
“We were pleased to have added a top-tier tenant like LegacyTexas Bank to our building,” Biggs in a statement.  “It’s a trophy building in one of the hottest submarkets in the Metroplex.”
Built in 2012, the tower still has eight floors available for tenants.
Early this year the real estate leasing agents at JLL decided to divide up the building, rather than hunting a business that would take the entire project.