Office Team Changes for $100M-Plus Project

Bernard Deaton, executive vice president and managing partner for Dallas-based Bradford Cos., tells GlobeSt.com that the contract includes the present as well as the future--design and development for the balance of the 500,000-sf office component in the Legacy Drive-Texas 121 project. Stonebriar Commons is a 330-acre, mixed-use development by Windmill Development Co., led by Peter Streit and Ernest Blank.

The Weitzman Group of Dallas had been preleasing office as well as the retail, which it will continue to do. The team netted Ebby Halliday Realtors for a 13,000-sf office and a mortgage company for 4,000 sf.

Deaton says his strategy will be to target vendors for neighboring corporate giants like JCPenney Co. Inc. and Frito-Lay Inc. in addition to the usual mix of professionals. And when the 91,500 sf starts moving toward full, the plan is to start a third office building to complete the first phase and jump into marketing the second wave. If Deaton's prediction is true, marketing for the second phase could begin within six months.

"We're just getting cranked up," Deaton says. "We're pushing very rapidly on it because there's a window of opportunity for it." Stonebriar Common's first phase is tagged at $24.50 per sf plus electric.

Meanwhile, the developer is ready to break ground on a 125-room Four Points by Sheraton, the second hotel for the project, which already has a Westin Resort and Fazio-designed golf course. The retail line-up to date includes Cantina Laredo, Silver Fox, Wine Bistro, Isabella's, Bay Grill and Daily Grind.

"This isn't retail alone. The park is turning out to be a really nice mix of white tablecloth restaurants," Deaton stresses. "They're doing it right by bringing in other than fast food." And if demand meets expectation, he says Stonebriar Commons' office build-out could be re-mapped for up to 750,000 sf.