New Developments Coming to International Business Park

Billingsley Co. is constructing an addition to International Business Park in Carrollton and Plano that will include five office buildings and a shared amenities center.

Located at 6161 Plano Pkwy., the project is spearheaded by the first building, a speculative, four-story plan that contains office space and the amenities center. The five new buildings will range from 180,000 to 211,000 square feet each, with a total footprint of 967,000 square feet.

According to Billingsley partner Lucy Burns, the new campus will feature private outdoor space for the first-floor tenants, and will come at a cost of less than $25 per square foot. Peloton Commercial Real Estate’s Trevor Franke and Gini Dibrell will be leasing the projects for Billingsley.

Read more at www.dmagazine.com

Frisco City Council approves purchase of Brinkmann Ranch land for large community park

Frisco City Council approved purchasing a portion of 390 acres on Brinkmann Ranch on Tuesday for the development of park land with athletic fields.

The city is purchasing the land, located on the southwest corner of Panther Creek Parkway and Preston Road, with the Frisco Community Development Corp. The Frisco Economic Development Corp. may also contribute to the purchase of the park land, which will total about $61 million.

Read more at Community Impact Newspaper

Dallas ISD’s former headquarters along Ross Avenue near downtown Dallas getting major makeover

A Dallas-based investment firm plans to transform the former Dallas Independent School District headquarters along Ross Avenue from administrative offices into a luxury rental community while saving the architecture of the historical building.

Dallas ISD left the corporate office at 3700 Ross Avenue in downtown Dallas to consolidate into an office building along North Central Expressway, giving the school district a more efficient footprint.

Click to read more at Dallas Business Journal. 

Mixed-use development near the Dallas Cowboys’ headquarters in Frisco sells to REIT

A big part of Frisco Square, a mixed-use development near the Dallas Cowboys’ world headquarters and practice facility, has sold to a publicly-traded real estate investment trust. The purchase includes three office buildings, two apartments with ground-floor retail, a Cinemark movie theater and some additional developable land sites.

In all, an affiliate of Kansas City, Missouri-based Maxus Realty Trust Inc. (OTCMKTS: MRTI) acquired more than 213,000 square feet of Class A office and retail space, along with 144 high-end apartments. Terms of the deal were undisclosed.

Click to read more at Dallas Business Journal.

Guess who has the biggest development pipeline of apartments in the U.S

The hot real estate market has Dallas-Fort Worth apartment developers holding the biggest supply of new apartments in the United States.

But the New Year could bring a new reality for the Big D.

North Texas’ ongoing construction totaling 30,296 apartment units is noticeably down from last year’s peak of 39,700 units in the construction pipeline, but is still significantly more than big markets, such as New York and Los Angeles, said Greg Willett, chief economist for RealPage Inc. (Nasdaq: RP).

Click to read more at Dallas Business Journal

High-end office magnet being developed as part of $150M mixed-use project in DFW

A Dallas-based real estate development and investment firm, which is backed, in part, by former Dallas Cowboys quarterback Troy Aikman, plans to begin a new $150 million mixed-use development in Flower Mound’s Lakeside Business District, which will bring high-end office space, a hotel and apartments to the neighborhood.

The 35-acre mixed-use development, called The Point, at FM 2499 and Silveron Boulevard in Flower Mound, is slated to get underway in fall 2018.

Plans for the project include 215,000 square feet of Class A corporate office space, a 100-room Tru by Hilton hotel and 585 apartments developed by Dallas-based Trammell Crow Residential. The Point could also include additional ground-floor retail and restaurant space, as well as a 5.5-acre green space with pedestrian-friendly walking paths.

Click to read more at Dallas Business Journal.