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FRISCO, TX-Panattoni Development Co. LLC, ending a long-timesearch for the dirt, has staked a 35-acre claim to develop 550,000sf of flex industrial space near Pizza Hut Park. The $50-milliondevelopment, 712 Business Center, will break ground in May as theink dries on the land purchase.
The first wave of construction will be three buildings with295,500 sf, a $25-million launch on half of the development site.The second phase, planned to keep pace with demand, will be 255,000sf on 15 acres. Jon Napper, the Texas partner for theSacramento-based Panattoni, tells GlobeSt.com that the door is opento acquire additional acreage from the seller.
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