(To read more on the industrial market, click here.)

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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.

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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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The 712 Business Park will bring the first space of its type tothe city and herald a new push for the developer as well.Panattoni's Texas projects historically have been big-boxindustrial, but the Frisco plan targets 25,000-sf to 30,000-sftenants, with up to 150,000 sf for one user. Napper says MountainCreek Business Park in South Dallas also has some land earmarkedfor similarly sized projects.

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"What we see is a user market for smaller distribution uses,"Napper says. The pent-up demand primarily is due to residentialdevelopment, driving a need for showroom and warehouse combo unitsfor contractors like electricians and plumbers, much like the scenewas in Addison about 30 years ago.

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Napper adds that the team's already in talks with severalprospects via brokers and referrals from the Frisco EconomicDevelopment Corp., which has had several walk-ins searching forflex and light industrial locations. "I'm real encouraged with theactivity that we're having on it," he says.

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Napper says he's been scouting the town for a site for severalyears, including previous talks for the same tract but it was inthe flood plain. When FEMA changed the lines, Napper called a haltto his search and struck a deal with Brad Cook of Frisco for theland.

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The development site sits along a two-lane road that the cityplans to widen to four at some point. In the interim, Napper saysthe city will upgrade CR 712 so Panattoni can get itsinfrastructure in place for construction. Delivery is planned forthe fourth quarter.

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Lisa Brinser, Panattoni's project manager for 712 BusinessCenter, says talks with the city and its EDC began roughly sixmonths ago. "They've been really receptive," she says. "There'snothing up there that we're competing with."

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The flex space will be at the business park's front door andcaddy corner from Pizza Hut Park. A 60,000-sf building, with18-foot clear heights, has been designed with three sides of glassand grade doors in the back. Its sister will have 70,500 sf, withmany of the same features. The plan includes a 165,000-sf structurewith 24-foot clear heights and rear-load, dock-high doors.

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Alliance Architects of Dallas designed 713 Business Center, andPanattoni Construction Inc. will build it. Pacheco Koch, also fromDallas, is the civil engineer. Kurt Griffin and Natalie Kampen withCushman & Wakefield of Texas Inc. is representing Panattoni inthe land purchase.

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