Friday, February 06, 2015

LegacyTexas Bank to relocate corporate HQ to former Encana building in Plano

Plano-based LegacyTexas Bank plans to relocate its commercial banking corporate headquarters to Plano Tower, the former Encana Oil & Gas Inc.'s regional headquarters.

The bank will occupy the top three floors at the newly renamed building at 5851 Legacy Circle in Plano, which was — until recently — occupied by Encana before the oil and gas company pulled its business out of Texas.

LegacyTexas Bank plans to relocate its corporate offices to the 12-story, 318,582-square-foot tower within the next few months.

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The closing of Encana’s regional HQ in Plano will open up room in the Legacy office market. Encana moved into the newly constructed 320,000-square-foot building in 2012. It sits on a 7-acre tract of land. Pheonix-based Cole Real Estate Investments purchased the offices for $120 million in November 2012.

"We were pleased to have added a top-tier tenant like LegacyTexas Bank to our building," said Greg Biggs, the managing director at JLL, who represents Encana. "It's a trophy building in one of the hottest submarkets in the Metroplex."

Ben Sumner of Centurion Real Estate Partners represented the bank. Biggs,Doug Carignan, Torrey Littlejohn and Marc Feldman of JLL represented the sublandlord, Encana. The tower is owned by American Realty Capital Properties.
At the time, Encana's exodus from the newly completed tower the company had specifically built for its own use was expected to roil the Legacy Business Park submarket. The area has a number of new office towers under construction, including Trammell Crow Co.'s Legacy Towers and Granite Park's fifth office building.

The Plano Tower was built in 2012 by Dallas-based KDC Real Estate Development for Encana, which spared no expense in the development of the project. JLL is looking for other tenants to fill the building's remaining vacant floors.

Candace Carlisle, Dallas Business Journal