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

ALLEN, TX-The Bradford Cos. has staked the first industrial claim in Twin Creeks, a 495-acre mixed-use development in the far northern tier. The push gets under way with an $11-million project, totaling 180,000 sf.

Bradford and local officials yesterday marked the event with a groundbreaking on 64,000-sf, 60,000-sf and 56,000-sf structures, situated on a 12-acre tract along Watters Road in Collin County. Bradford, which has optioned another 12 acres, will deliver the spec space by midsummer. With dirt work under way, vertical construction on Twin Creeks Business Center should be ready to begin in three months.

“It will be the only dock-high space in Allen,” says Kevin J. Santaularia, president and CEO of North Texas-based Bradford Corfac International. “Allen’s been a market that’s been ignored since early 2000.”

Santaularia is confident there will be some preleasing before completion due to the design and location. He tells GlobeSt.com that the quote has been set at $5.95 per sf net with $6 per sf in tenant-improvement allowance. Bradford’s Susan Singer and George Tanghongs are preleasing the shallow-bay project, designed by Alliance Architects Inc. of Dallas and to be built by Scott & Reid General Contractors Inc., also from Dallas.

“With vacancy under 10%, we felt it was a good time to create some good industrial real estate,” Santaularia says. Bradford bought the land in late December from the Brittingham family, developers of Twin Creeks.

Charles Nies with management company Dal-Briar Corp. says construction on several fronts will ramp up this year in Twin Creeks, where the lion’s share of the land is dedicated to medical office and retail construction after 13 years of building a mass of rooftops in a golf-course community.

Commercial construction began in the late 1990s with a 50-acre shopping center followed by a restaurant row and hotel. The recent commercial push is due to Allen Presbyterian Hospital, which has another 21 acres banked for expansion.

A rehabilitation hospital and skilled nursing home are under construction. Plans are being finalized for a dialysis center, allergy center and home fashion center. In the spring, Bentonville, AR-based Wal-Mart Stores Inc. will break ground on a supercenter.

Nies says he’s now marketing roughly 40 acres for medical office development, 72 acres for mixed use, 90 acres for office and technology and 35 acres for general office. Another 135 acres are earmarked for patio homes catering to the 55-year-old and over crowd. In addition to what’s on the ground, Nies says there could be 80 to 100 acres of additional retail, up to 60 acres of medical office space and 90 acres of other commercial space, a package that could add 1.5 million sf. Dirt is running $5 per sf to $8 per sf for the ready-to-build land, according to Nies.

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