Developer Eyes $9M Office Project in Legacy Park

PLANO, TX-A Dallas investor has wrangled 3.5 acres from EDS Corp. to launch a plan to add another class A office building to the Legacy Park inventory. The team behind the plan says the estimated $9-million project will rise on the land, either as build-to-suit or spec.

David Cartwright with Holt Lunsford Commercial Inc. in Dallas tells GlobeSt.com that the playbook calls for spending the next six months searching for a build-to-suit tenant. If the drive comes up dry, the plan is to pull the trigger on a 60,000-sf spec development at the intersection of Bishop Road and Democracy Drive. “The decision will be made by spring,” he adds.

Cartwright says “all options are on the table,” including a resale of acreage. Cartwright says the investor bought the land in a direct deal with EDS, which is piecemeal selling select tracts in Legacy Park. The development site is one block from the Dallas North Tollway and adjacent to the Southwest Federal Credit Union, now in final construction stages. Holt Lunsford’s John Hoctor negotiated the land sale and is leading the development campaign.