JBP Properties is testing the market in Dallas-Fort Worth’s hottest suburb for office space.
The developer listed a 180,000-square-foot building in Plano’s Legacy business park last month for $22.5 million, offering both sale and lease options, the Dallas Business Journal reported.
It tapped independent broker Jack Crews to find a buyer for Parkside on Legacy, a three-story office campus spanning 17.6 acres at 5100 Legacy Drive. The asking price works out to $125 per square foot. Colliers’ Chris Wright is managing leasing at the building.
Parkside on Legacy previously served as the headquarters for Crossmark, a sales and marketing services company. Dallas-based Corgan designed the campus to support various industries, including technology, life sciences, biotech and insurance.
The Class A building, which opened in 2003, features high ceilings, column-free rooms and a large central reception area with executive offices that overlook a lake. The space is adaptable for companies seeking a collaborative work environment, making it an attractive option for businesses looking to establish a single-tenant corporate headquarters.
Amenities include two levels of underground parking, a cafeteria, walking trails and open green spaces. JBP Properties, headed by CEO Jim Bolduc, has positioned the campus as a steal, priced below replacement cost and ready for immediate use, Crews said.
Dallas recently ranked No. 1 in Site Selector Magazine’s headquarters rankings, which was fueled by Texas’ business-friendly taxes and growing workforce. The top sectors relocating to the region include tech, manufacturing and finance.
Companies leased approximately 3 million square feet of office space in the last quarter, driven primarily by renewals and relocations. Another 4.5 million square feet of Class A office space is expected to come online over the next three years, according to Savills.
— Andrew Terrell
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