The spec project--the 173,382-sf Building XV--is a three-storyLEED Silver design by Dallas-based Morrison Seifert Murphy Inc.,with Rogers O'Brien Construction Co., also from Dallas, in thedriver's seat for construction. Mesa Design Group, another Dallasfirm, is the landscape architect for 6100 W. Plano Pkwy. The shelldelivers in September.

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The company, led by Lucy Billingsley, last year sold seven of thepark's eight buildings to Argus Realty Investors LP of SanClemente, CA for more than $130 million. Billingsley retained a103,916-sf office building at 4100 Midway Rd. in Carrollton, thelast one that was built in the 300-acre International BusinessPark. Billingsley's building is 92% occupied and Argus' claim is94%, part of the motivation to add more space, says Trevor Franke,vice president of Dallas-based Peloton Real Estate Partners.

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"She's had it planned for years and decided it's time to build,"Franke tells GlobeSt.com. "The park has been a huge success, butthe market wasn't ready for more until recently."

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The spec building is being parked at the cross hairs of theDallas North Tollway and President George Bush Toll Road [Texas190]. The overall submarket has been a hotbed for officeconstruction for two years, but it's clear sailing for five milesalong the toll roads in both directions in terms of new buildings,particularly value office, according to Franke. He is partneringwith Peloton partner T.D. Briggs and associate Aarica Nix for thetenant hunt, using a quote of $23 per sf plus electric as thestarting point. "Until you get into Legacy [business park], we'reit for value office," Franke says, adding the team's alreadyworking a couple deals in its pipeline.

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"This intersection of the tollway and 190 is the bull's eye forNorth Dallas," says Joel Pustmueller, also a Peloton partner. "WithLBJ Freeway going under construction, that's only going to be evenmore highlighted."

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The widening of LBJ Freeway is scheduled to start in 2009,ripping up a major thoroughfare that's clogged for hours each day.The project is slated to take five years to complete.

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