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Real Deals: The Encore is sold and a slab is poured December 23, 2013
The Encore is sold and a slab is poured
CBRE’s Dallas Multi-Housing Group has sold The Encore, a 196,664-square-foot luxury apartment community located at 4700 Tribeca Lane in Plano, near Legacy Business Park.
Charles Cirar, Ryan Reid and Jeremy Faltys with CBRE represented the seller, Zale/Corson Group. Terms of the deal were not disclosed.
“The sale of this community provided an investor a rare opportunity to acquire a state-of-the-art, mid-rise community in Dallas’ most affluent neighborhood adjoining Legacy Business Park and North Plano,” said Reid, an executive vice president of CBRE.
The 240-unit, Class A residential property was developed in 2012 by the Zale/Corson Group and was 95 percent leased at the time of sale.
It offers one- and two-bedroom floor plans ranging in size from 668 to 1,170 square feet. Property amenities include a clubhouse with a business center, Wi-Fi and lounge, a resort-style swimming pool and a fitness studio open 24 hours.
Billingsley Co. has completed the foundation on 6111 West Plano Parkway, a 180,000-square-foot office building in the International Business Park in Plano.
"We are excited to have finished our first major construction milestone for the property," said Lucy Burns, partner. "The tilt panels will begin going up in December and we will be ready to begin tenant improvements in March."
Anchor tenant ReachLocal will move in in May.
Billingsley Co. has offices in The Arts District in Dallas, Houston, The Colony and Carrollton.
The same developer building the State Farm complex has broken ground on another project in Richardson.
KDC is building a 260,000-square-foot office and warehouse project for AdvoCare International, which sells nutrition, weight-loss, energy and sports performance products.
Located at 2800 Telecom Parkway, the 35-acre development will include a 235,000-square-foot warehouse and two-story, 25,000-square-foot office building.
When the complex opens in July, it will house 100 AdvoCare workers; 150 employees will remain at the corporate headquarters in Plano.
KDC has developed three other award-winning projects in Richardson: the 800,000-square-foot Nortel Networks Galatyn Park Campus in 2001 (now occupied by Bank of America and State Farm), the 1.1 million-square-foot Blue Cross Blue Shield campus in 2009 and the 535,000-square-foot Fossil campus in 2011. KDC also has developed three data centers for Digital Realty at Data Center Park Dallas in Richardson.
“The city of Richardson continues to be an outstanding partner with KDC and our corporate clients by focusing on the end result for all stakeholders and implementing the best strategies to help each party achieve their goals,” said Toby Grove, president of KDC. “The AdvoCare facility is another example of the city’s ability to fast-track projects in the most economical way possible.”
Azimuth: Architecture is the project designer for the new facility and McFadden & Miller is the general contractor. Kacy Jones with CBRE represented AdvoCare during the transaction.
Thomson Reuters will soon move about 300 employees from its downtown Fort Worth office to the recently refurbished and expanded Thomson Reuters headquarters in Carrollton or, in some cases, to home offices.
Thomson Reuters’ Fort Worth offices are located at 801 Cherry St. in the Burnett Plaza building.
The employees include editorial personnel, software developers and sales and customer support staff for Thomson Reuters’ tax and accounting business.
The company’s 400,000-square-foot campus in Carrollton is headquarters for its tax and accounting business. The facility can now accommodate 1,200 employees and could add office space for 700 more if needed.
Global co-location solutions provider CyrusOne announced in early November it has reached the 1 million-square-foot mark of raised white floor space in its 25 carrier-neutral data center facilities across the United States, Europe and Asia. It crossed this threshold as it recently commissioned a new 60,000-square-foot data hall at its Carrollton data center.
“Achieving 1 million square feet of data center space is a tremendous accomplishment for the entire CyrusOne team and reflects solid progress toward our goal of being the preferred data center provider of Fortune 1000 companies,” said Gary Wojtaszek, president and CEO of CyrusOne.
CyrusOne’s Carrollton data center is the largest and most energy-efficient multi-tenant data center in Texas, according to CyrusOne officials. The recently commissioned second phase of the data center adds about 60,000 square feet of raised white floor space within the site’s total footprint of 670,000 square feet. Construction of the second phase was completed in 16 weeks using the company’s lower-cost, fast-to-market Massively Modular approach to facility design and engineering. The Massively Modular approach enables quick deployment of customer data center requirements, including purpose-built dedicated facilities and shared infrastructure solutions, according to a company news release.