Friday, February 06, 2015

Sentinel Capital to break ground on $90M office campus in Allen

Allen Place Rendering 2 copy
Houston-based developer Sentinel Capital LLC, in partnership with Centra Partners LLC and Triad Real Estate, plans to break ground on a $90 million, five-building office complex named Allen Place on Wednesday.

An artist’s rendering of the future Allen home of KONE, a global elevator and escalator company.

A groundbreaking was scheduled after the development group signed a massive deal with global elevator and escalator company KONE Inc. this fall.

The developer plans to start on the $26 million initial portion of the 22.5-acre office campus on the east side of North Central Expressway between Bethany and McDermott drives. At build-out, AllenPlace will total 700,000 square feet of space.

The KONE lease totals more than 169,000 square feet of office space and will help accommodate some of its Mexican division that's relocating to North Texas.

Allen Economic Development Corp. has been working with the development group to bring more office space to the northern suburb, which has a low vacancy rate.

The groundbreaking ceremony is scheduled for 1:30 p.m. on Wednesday at the site at 500 Century Parkway in Allen.

Candace Carlisle, Dallas Business Journal