North Central Texas. Development News. 4th Quarter 2007 Volume 4 Number 4

Transcription

1 North Central Texas Development News 4th Quarter 2007 Volume 4 Number 4 Summary The Research and Information Services Department of the North Central Texas Council of Governments (NCTCOG) tracks major developments for the 16-county region as part of the Development Monitoring Program. The fourth quarter summary is an overview of office, retail, and industrial projects over 80,000 square feet (sq ft) and hotels over 80 rooms that were announced, began construction, or were completed between October 1 and December 31, Also included is a summary of quarterly activity by type and location within the region. At the end of the fourth quarter 481 commercial developments were being tracked. In addition to commercial developments, NCTCOG s website includes data on residential developments, schools, and institutions (hospitals, government, etc.). Go to the Development Monitoring page at to access a tool that creates maps and reports by address, zip code and city, in addition to past issues of Development News. Development Monitoring information can also be mapped at Table of Contents Retail 1 Office 3 Industrial 5 Hotel 8 Mixed-Use 10 Summary 13 Completed Developments Market Place at Highland Village Address: Northeastcorner FM 2499 & FM 407 City: Highland Village Size: 450,000 square feet Opus West Corp Retail Anchored by 203,000 square foot Wal-Mart Supercenter and a Petco, Ofice Depot, LA Fitness, Home Goods, & TJ Maxx 380 Towne Crossing Address: Northwest corner US 380 & US 75 City: McKinney Size: 117,000 square feet The Retail Connection Super Target opened December Lowe s previously opened in the 3rd quarter. Page 1

2 Total Retail completed: 567,000 sq. ft. Retail Construction began on these developments Plaza del Oro 4438 West Jefferson Cockrell Hill Size: 90,000 square feet Marguax Realty Expected to be complete: - Wal-Mart Supercenter Southwest corner I-20 & US 287 Kennedale Size: 220,000 square feet Expected to be complete: Summer 2008 Arlington Highlands Phase II Northeast corner Matlock Rd & I-20 Arlington Size: 160,000 square feet The Retail Connection Expected to be complete: Late 2008 Existing 635,000 square feet Retail Mansfield Pointbreak Southeast corner US 287 & Debbie Lane Mansfield Will included Bed Bath & Beyond. Size: 157,000 square feet The Retail Connection Expected to be Complete: Summer 2008 Total Retail that began construction: 627,000 sq. ft. Announced Developments Mansfield Market Place Southwest corner US 287 & E Broad St Mansfield Retail Size: 211,000 square feet Canyon Partners Grand Prairie Prime Outlet Northeast corner I-20 & Highway 360 Arlington Size: 450,000 square feet Prime Retail Construction to Begin: Fall 2008 Construction to be Complete: 2009 Total Retail announced: 661,000 sq. ft. Page 2

3 Completed Developments Office Wilcox 190 Address: Northwest corner Independent Parkway & George Bush Turnpike City: Plano Size: 185,000 square feet Wilcox Development A second building will be added for a total of 315,000 square feet Hunt Consolidated Address: 1900 St. Paul City: Dallas Size: 350,000 square feet Type: Single-tenant Torchmark Headquarters Address: 3700 South Stonebridge City: McKinney Size: 150,000 square feet Type: Single-tenant One Allen Center Address: Northwest corner US 65 & Brittany Rd City: Allen Size: 150,492 square feet Duke Realty Baylor Medical Center Office II Address: Warren Parkway City: Frisco Size: 84,000 square feet Land Plan Type: Medical Office Page 3

4 Total Office completed: 919,492 sq. ft. Office Construction began on these developments Valliance Office Building Northeast corner Highway 121 & Lake Forest Drive McKinney Size: 122,000 square feet RT Oliver Investments Expected to be complete: February 2009 Opus Corporate Center Bldg II Southeast corner Royal Lane & Longhorn Irving Size: 110,000 square feet Opus West Expected to be complete: Fidelity Investments One Destin Way West Lake By the end of 2008 will have 3400 employees Saint Ann Court 2515 North Harwood Dallas Will house Saint Ann School Blue Cross Blue Shield of Texas 1001 East Lookout Drive Richardson Will house 2700 employees Size: Expansion 600,000 square feet Hillwood Type: Single-tenant Expected to be complete: Size: Expansion 320,000 square feet Harwood International Expected to be complete: 2009 Size: 1,100,000 square feet Koll Development Type: Single-tenant Expected to be complete: 2010 Total Office that began construction: 86,300 sq. ft. Announced Developments Cisco Systems 2200 George Bush Bush Turnpike Richardson Office Size: Expansion 67,219 square feet Page 4

5 Office Green Oaks Office Building 6901 West Freeway Replacing Green Oaks Hotel Heritage Commons III Northwest corner I-35W & Legacy Crossing Will house Dyncorp International Jason s Deli Headquarters Southwest corner I-20 & Highway 161 Grand Prairie Pioneer 360 Business Park (Phase I) Southeast corner Highway 360 & Pioneer Park Arlington Veritas Point Building Preston Road & Hedgcoxe Road Plano Windhaven Place One Southeast corner Dallas North Tollway & Windhaven Parkway Plano Size: Expansion 185,000 square feet Construction to Begin: January 2008 Construction to be Complete: December 2008 Size: Expansion 120,000 square feet Hillwood Size: 82,000 square feet Matthew Road Partners Type: Single-tenant Size: 1,300,000 square feet Size: 100,000 square feet Harwood International Size: 200,522 square feet Haggard Property Group Construction to be Complete: Early 2009 Total Office announced: 2,054,741 sq. ft. Completed Developments Alliance Gateway 23 Address: Northwest corner Park Vista & Westport Parkway City: Size: 142,500 square feet Hillwood Industrial Page 5

6 Alliance Gateway 72 Address: Southwest corner Independence Parkway & Henrietta Creek City: Size: 472,500 square feet Hillwood Technology Business Campus Phase III Address: Northeast corner Renner Road & Shiloh Road City: Richardson Size: 93,000 square feet Vantage Companies Type: Flex Total of 6 buildings State Fair Foods Distribution Address: Southeast corner Meacham Blvd & Beach St City: Size: 200,000 square feet Northern Crossing West Business Park Address: 2901, 2951, 3001, 3051 Northern Cross Blvd City: Size: 408,000 square feet Tig Real Estate Total Industrial construction completed: 1,316,000 sq. ft. Page 6

7 Construction began on these developments Dallas Logistics Hub Bldg I Langdon Road Dallas Industrial Size: 640,000 square feet Allen Group Expected to be complete: April 2008 Dallas Logistics Hub Bldg II Langdon Road Dallas Size: 210,000 Allen Group Expected to be complete: April 2008 Cascades at the Colony State Highway 121 & Morningstar The Colony Phase I will have a total of 6 buildings Lakeside Commerce Center Bldg I & II Lakeside Parkway & Silveron Blvd Flower Mound Duke Realty Industrial Northwest corner I-635 & Beltline Road Irving River Park High Road Size: 200,000 square feet Jackson-Shaw Type: Flex Expected to be complete: - Size: 152,000 square feet Granite Expected to be complete: - Size: 1,200,000 square feet Duke Expected to be complete: Consists of Two Buildings Size: 328,828 square feet Seefried Expected to be complete: Total Industrial that began construction: 2,730,828 sq. ft. Announced Developments Dallas Logistics Hub-Unilever Southwest corner I-45 & Fulghum Size: 822,000 square feet Duke Realty Corp Construction to be complete: October 2008 Town Lake Business Center Northwest corner Frye Road & Valley View Lane Lancaster Consists of four buildings. Size: 976,520 square feet Lauth Property Type: Distribution Center Construction to Begin: Early 2008 Page Construction 7 to be Complete: -

8 Prologis Development Southeast corner South Buckner & Eastpoint Drive Dallas Will have a total of 6 warehouses and 1.6 million square feet Size: 380,000 square feet Seefried Properties Total Industrial announced: 2,178,520 sq. ft. Completed Developments Hotel Great Wolf Lodge Address: 1400 West Highway 26 City: Grapevine Size: 402 rooms Great Wolf Resort Will be adding an additional 203 rooms Hampton Inn & Suites Address: Southeast corner I-20 & Collins City: Size: 105 rooms Holiday Inn Express Address: Northwest corner US 287 & Broad Street City: Mansfield Size: 72 rooms - No Picture Available Nylo Hotel at Legacy Business Park Address: Northwest corner Preston Rd & Headquarters Dr City: Plano Size: 176 rooms Nylo Hotels No Picture Available Page 8

9 Candlewood Suites Address: 4200 Reggis Court City: Size: 172 rooms Savagroup Best Western Inn Address: Southeast corner Walnut Creek Dr & US 287 City: Mansfield Size: 80 rooms Total Hotel completed: 1007 Rooms Hotel Construction began on these developments Aloft Hotel at Frisco Southeast corner Parkwood Blvd & Warren Parkway Frisco Size: 136 Rooms Champ Hospitality Expected to be complete: Fall 2008 Total Hotel that began construction: 136 Rooms Announced Developments Arlington Convention Center & Hotel 1200 Ballpark Way Arlington Size: 300 Rooms - Will expand convention center by 60,000 square feet Total Hotel announced: 300 Rooms Page 9

10 Completed Developments Broadstone Parkway Address: Northwest corner Inwood Blvd & Galleria City: Farmers Branch Size: 40,000 square feet mixed-use 325 Condos Mixed Use Activity Total Mixed-Use completed: Mixed-Use: 40,000 square feet Condos: 325 Construction began on these developments Village at Fairview Northeast corner US 75 & Stacey Road Fairview Mixed Use Activity 200,000 square feet office 500,000 square feet retail 275 Room Hotel 100 Apartment Units; 300 Single Family Units MG Herring Group; John Q Hammons; Richardson Properties Centre at Preston Ridge (Apartments) 3201 Preston Road Frisco 655 apartments Expected to be complete: - Lake Highlands Town Center Northeast corner Skillman St. & Kingsley Dallas 300,000 square feet retail 1000 Apartment Units Prescott Realty Group Expected to be complete: 2009 Total Mixed-Use that began construction: Retail: 800,000 square feet; Office: 200,000 square feet Apartments: 1755; Single Family Units: 300 Page 10

11 Announced Developments Terraces at Las Colinas Southwest corner Las Colinas Blvd & Highway 161 Irving Mixed Use Activity 200,000 square feet office 1,000,000 square feet retail 250 Residential Units Woodmont Company Construction to be Complete: LNR Property Corp. Northwest corner I-35W & US 287 Glory Park Randol Mill & Nolan Ryan Expressway Arlington 1,000,000 square feet retail 1300 Apartment Units Hotel, Fitness Center and Offices will also be included LNR Property Corp 35,000 square feet retail 300 Room Westin Hotel and Condos 140 Room Aloft Hotel and Condos Gatehouse Capital Construction to Begin: Midtowne Southeast corner US 287 & US 67 Midlothian 90,000 square feet mixed-use 449 single family units Monte Anderson Construction to Begin: January 2008 Oak Park Northeast corner Lemmon Ave & Wheeler Dallas 1000 mixed-use units Inland American Communities Desoto Town Center 210 East Pleasant Run Road Desoto Will demolish old grocery store currently on site Clear Fork Bryant Irvin Drive Glen at Preston Hollow Northwest corner US 75 & Walnut Hill Lane 37,698 square feet mixed-use 146 apartment units - 2,000,000 square feet office 1,200,000 square feet retail 2500 residential units Dunaway Associates 100,000 square feet office 125,000 square feet retail 400 apartment units Valencia Capital Management Page 11

12 Total Mixed-Use Announced: Retail: 3,360,000 square feet Office: 2,300,000 square feet Mixed Use: 127,698 square feet Multi-Family Units: 5899 units Hotel Rooms: 440 Page 12

13 Quarterly Activity Summary Number of Projects Under Development at the End of the Quarter (Includes Conceptual, Announced and Under Construction) Square Footage of Construction That Began Each Quarter Number of Projects Square feet (millions) st07 2nd07 3rd07 4th07 Quarter 0 4th06 1st07 2nd07 3rd07 4th07 Quarter Ret ail Industrial Of f ice Mixed-Use Retail Office Industrial Page 13