Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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

FRISCO, TX-Panattoni Development Co. LLC, ending a long-time search for the dirt, has staked a 35-acre claim to develop 550,000 sf of flex industrial space near Pizza Hut Park. The $50-million development, 712 Business Center, will break ground in May as the ink dries on the land purchase.

The first wave of construction will be three buildings with 295,500 sf, a $25-million launch on half of the development site. The second phase, planned to keep pace with demand, will be 255,000 sf on 15 acres. Jon Napper, the Texas partner for the Sacramento-based Panattoni, tells GlobeSt.com that the door is open to acquire additional acreage from the seller.

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

“What we see is a user market for smaller distribution uses,” Napper says. The pent-up demand primarily is due to residential development, driving a need for showroom and warehouse combo units for contractors like electricians and plumbers, much like the scene was in Addison about 30 years ago.

Napper adds that the team’s already in talks with several prospects via brokers and referrals from the Frisco Economic Development Corp., which has had several walk-ins searching for flex and light industrial locations. “I’m real encouraged with the activity that we’re having on it,” he says.

Napper says he’s been scouting the town for a site for several years, including previous talks for the same tract but it was in the flood plain. When FEMA changed the lines, Napper called a halt to his search and struck a deal with Brad Cook of Frisco for the land.

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

Lisa Brinser, Panattoni’s project manager for 712 Business Center, says talks with the city and its EDC began roughly six months ago. “They’ve been really receptive,” she says. “There’s nothing up there that we’re competing with.”

The flex space will be at the business park’s front door and caddy corner from Pizza Hut Park. A 60,000-sf building, with 18-foot clear heights, has been designed with three sides of glass and grade doors in the back. Its sister will have 70,500 sf, with many of the same features. The plan includes a 165,000-sf structure with 24-foot clear heights and rear-load, dock-high doors.

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

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.