An office development in Allen nabbed two new tenants, adding 36,000 square feet of leases to its roster.
Florida-based construction company Moss and MKA International, a construction consulting firm out of California, are moving into the 102,000-square-foot FarmWorks One, according to a news release. Newmark’s Nathan Durham and Duane Henley represented developer JaRyCo in the deal.
Moss will take 25,800 square feet, while MKA International signed a lease for 10,500 square feet.
Fibergate Composite Structures was the first tenant to sign a lease at FarmWorks One, in May. The company leased 13,000 square feet, which will serve as its headquarters. Between the three tenants, the building is almost half leased.
FarmWorks One, at 1234 Johnson Road, is part of a 135-acre mixed-use project known as the Farm, which is located at the intersection of Sam Rayburn Tollway and Alma Drive in Collin County.
When it’s complete, the Farm will include 1.6 million square feet of office space, 202,000 square feet of retail and restaurant space, a 150-key hotel and 2,400 multifamily units. The Farm features an entertainment center called the Hub as well as parks, a lake and hike-and-bike trails.
The land on which the Farm is being built was originally owned by the Johnson family, which purchased the property in 1964. They used the land for a working farm.
Allen is benefiting from the northward march of Dallas development. The town is about 25 miles north of downtown Dallas. It’s home to Watters Creek Village, a 52-acre mixed-use project with retail, restaurants and a village green.
As Dallas’ office pipeline thins out, office space in popular Dallas suburbs like Allen has gotten scooped up. Even so, Dallas-Fort Worth’s office vacancy rate remains high at 27.7 percent, but industry experts are hopeful that this number will start to decline as office buildings delivered in the last decade fill up.
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