Monday, February 09, 2015

Stream Breaks Ground on Connection Park

Stream Realty Partners has announced the groundbreaking of the first phase of its latest office development, Connection Park.

Situated at the intersection of Freeport Parkway and LBJ Freeway in Irving, Connection Park will comprise over 300,000 square feet of office space across two interconnected buildings. Stream is partnering with Alex Brown Realty on the project and DFW-based American Bank of Texas is providing construction financing.

Phase I of the 18.3 acre campus includes a 3.5 story building and 141,219 square feet of class A office space. The top floor will feature a patio-ready rooftop, which tenants can convert to an indoor/outdoor cafe or executive amenity.

Design firm Powers Brown, a leader in tilt-wall design, is the project’s architect and EMJ Corp. is the general contractor for Phase I.

"EMJ was actually on the site and under way the first week of January, so we are on schedule for a November delivery,” Ramsey March, managing director at Stream, told “We've seen a significant pickup in leasing interest since that time and expect to break ground on the second phase later this year."

Adds March: “The buildings will include more restrooms, more glass and better curb-appeal than a typical value-office building while providing the efficiency and 6:1000 parking ratio the market demands.”

Construction on the 160,000-square-foot second phase of Connection Park will commence later this year.

“There is persistent under supply of high-quality, large blocks of space throughout DFW for tenants demanding 6:1000 parking or better,” says Tim Terrell, the executive vice president at Stream leading the leasing efforts. “We are targeting lead tenants anywhere from 20,000 to 140,000 square feet and are willing to break up the building for the right situation.”

Anna Caplan, GlobeSt.