Development News

North Central Texas
Development News
2nd Quarter 2006
Volume 3 Number 2
Summary
2nd Quarter Snapshot
The Research and Information Services Department of the North Central Texas Council
of Governments (NCTCOG) tracks major developments for the 16-county region as part
of the Development Monitoring Program. The second quarter summary is an overview of
office, retail, and industrial projects over 80,000 square feet (sq ft) and hotels over 80
rooms that were announced, began construction, or were completed between April 1
and June 30, 2006. Also included is a summary of quarterly activity by type and location
within the region. At the end of the second quarter, 361 commercial developments were
being tracked. In addition to commercial developments, NCTCOG’s website includes
data on residential developments, schools, and institutions (hospitals, government, etc.).
Go to the Development Monitoring page at http://development.nctcog.org/ to access a
tool that creates maps and reports by address, zip code and city, in addition to past
issues of Development News. Development Monitoring information can also be mapped
at http://www.dfwmaps.com/devmon.
Completed Projects
Office
Three Legacy Town Center
2600 Network
T-Mobile
Lakeside Office Center Bldg. 1
Epsilon Inc.
Bandera Ventures
completed a new 135,231
sqft facility for Advo Inc., a
direct mail media company,
The biggest development news of the second
at 600 Cockrell Hill Rd. in
quarter was the completion of the Texas Instruments
RFAB plant at 300 W. Renner Rd. in Richardson. The 1.1 Pinnacle Park. And in
million sqft plant will eventually employ 1000 people. Three DeSoto, DW Distribution
completed a 180,000 sqft
projects were completed in Dallas County during the
quarter. Valley View Business Center Buildings 1 and 2, expansion (not pictured) at
which are 117,200 sqft and 91,674 sqft respectively, were 1200 E Centre Park
completed at the northwest corner or Valley View and FAA Boulevard. Two projects
were completed in Tarrant
Blvd. in Irving. Proterra Properties was the developer.
Industrial
Retail
Wal-Mart Supercenters (3)
Star Creek Retail
Northpark Center
Home Depot
Sam’s Club
Industrial
Texas Instruments
Riverpark 500
Waxahachie Distribution Center
Mercantile Dist. Center 11,12 & 13
Valley View Business Center 1 & 2
DW Distribution
VEKA
Advo Inc.
Motivating Graphics
Landmark Fabrication
Began Construction
Office
Medical Center at Calloway Creek
Methodist Medical Office
Retail
Uptown Village at Cedar Hill
Robertson’s Creek
Vineyard Village
Shops at Highland Village
SuperTarget (2)
Pinnacle Point
Industrial
Grand Lakes I
Duke Intermodal I
Skyline Trade Center Bldg. C
Lakeside Ranch Business Park 30 & 31
Essilor Laboratories
Allied Electronics
Ten Eleven N. 28th St.
DFW Trade Center Bldg. H
DFW Logistics Center
Freeport Corporate Center IV
The Texas Instruments plant at 300 W. Renner Rd. in Richardson will eventually employ 1000 people.
Page 1
(Cont’d on page 7)
Dallas County. The largest project is the
752,000 sqft Grand Lakes I by Duke Realty,
located at 4003 Gifford St. in Grand Prairie.
Duke Realty has also started work on Duke
Intermodal I at 801 E. Wintergreen across from
the Union Pacific Intermodal Facility. That
building is 624,000 sqft. In Mesquite, work has
begun on Skyline Trade Center Bldg. C, a
492,000 sqft building at the southwest corner of
Skyline and Peachtree. IDI is the developer of
the project, which will eventually include four
buildings. Work on Bldg. A will wrap up in the
third quarter. IDI is also developing DFW Trade
Center Bldg H at 2901 SH 121 in Grapevine.
The 170,000 sqft building will be the last in the
development. Bandera Ventures and Crow
Holdings are developing a 205,000 sqft project
near DFW Airport called Ten Eleven N. 28th
Avenue. Close by, Prologis has begun work on
the 114,600 sqft Freeport Corporate Center IV
Riverpark 500 at 3101 High River Dr. in Fort Worth contains 320,000 sqft.
at 9250 Royal Lane. The final project underway
County. Seefried Properties completed Riverpark 500 at in Dallas County is a new 270,000 sqft headquarters for
Essilor Laboratories, a manufacturer of optical lenses, at
3101 High River Road in far east Fort Worth. JanPak is
leasing 170,000 sqft of the building. Also completed in Fort 13515 N Stemmons Frwy. in Farmers Branch. In Tarrant
Worth was a three-building project on Mercantile Dr.
County, work has begun on a new 365,000 facility for Allied
Electronics at 7101 S. Jack Newell Blvd. in Fort Worth and
consisting of the 137,500 sqft Mercantile Distribution
Center 11 and two 121,700 sqft buildings (Bldgs. 12
and 13). Mercantile Partners was the developer and
Bob Moore Construction was the contractor. The
final four projects completed were in the surrounding
counties. First Industrial Realty Trust developed the
201,500 sqft Waxahachie Distribution Center at
2265 N Hwy. 77 in Ellis County. VEKA Inc., a
manufacturer of extruded vinyl profiles for windows
and doors, opened a new facility in Kaufman at the
northeast corner of Apache Trail and Metrocrest Way.
In Wise County, Landmark Fabrication completed
the first building in the 400-acre Decatur Landmark
Industrial Park at the intersection of Hwy. 81/287 and
Bus. Hwy. 81. The company, which builds composite
elevated water storage tanks, will eventually employ
50 people at the plant. And in Denton County,
Waxahachie Distribution Center was developed by First Industrial Realty.
Motivating Graphics completed an 80,000 sqft
expansion (not pictured) of their facility at 3100 Eagle
on DFW Logistics Center, a 113,640 sqft project by AMB
Parkway in north Fort Worth.
Property Corp. at the northwest corner of Airfield and
Construction began on eleven industrial projects
Minters Chapel in Grapevine. Finally, LNR Properties has
totaling over 3.4 million sq ft. Seven of the projects are in
started construction in Denton County on Lakeside Ranch
Valley View Business Center Building 1 is one of two in the project. Mercantile Distribution Center 11 in Fort Worth is 137,500 sqft.
Page 2
VEKA Inc. moved into a new 100,000 sqft facility in Kaufman.
Landmark Fabrication will eventually employ 50 people in Decatur.
Center at 6770 Westworth Blvd. in Westworth Village. A
155,000 sq ft Sam’s Club opened adjacent to the
Westworth Village store. Both of those stores relocated
from White Settlement locations. An additional 250,000 sqft
of retail and 90,000 sqft of office space are planned for the
Town Center. An expansion at Northpark Center in Dallas
added 110 stores in 260,000 sqft and an AMC theater.
Nordstrom opened a store
there last November and
Barneys New York will
open a store in the Lord and
Taylor space in the fall. With
the two-year expansion
completed, the mall now
boasts 2,351,600 sqft of
space and it is now the
largest mall in Texas. In
Allen, a 126,000 sqft
Lifetime Fitness center
opened in the Star Creek
development at 971 SH 121.
Across the street, a new 16screen Cinemark theater
also opened. And in Denton,
The new 135,231 sqft facility for Advo Inc. at 600 Cockrell Hill Rd. in Pinnacle Park.
Home Depot relocated to a
new 117,995 sqft store in Denton Towne Crossing at the
southwest corner of Loop 288 and Brinker Road. A
Retail
SuperTarget will open in the center in the third quarter.
Construction began on seven projects totaling
Three Wal-Mart Supercenters comprise over half
of the 1.2 million sqft of retail completed during the quarter. almost 2.9 million sq ft. The largest project is Uptown
The stores are located at 951 W Beltline in DeSoto, at 9500 Village at Cedar Hill, which is located southeast of
Pleasant Run and FM 1382.
Clifford in Fort Worth, and in the Hawk’s Creek Town
Business Park Bldgs. 30 and 31, which are 66,000 and
277,000 sqft respectively. That development is at the
southeast corner of Lakeside Pkwy. and Gerault Rd. in
Flower Mound.
One project was announced during the quarter.
Duke Realty will construct a 527,000 sqft building called
DFW Airport I near the airport.
The Cinemark Allen 16 at 921 SH 121.
Lifetime Fitness opened a 126,000 sqft health center in Allen.
Page 3
Special Products & Mfg. relocated into a new facility in Rockwall.
Home Depot relocated to a new store at Denton Towne Crossing .
Sam’s Club relocated from White Settlement to Westworth Village.
The 800,000 sqft lifestyle center is scheduled to open
Pinnacle Park development. The site plan calls for
March 2008 and tenants will include Dillard’s and Barnes 100,000 sqft of retail on the corner, a 500,000 sqft industrial
building, and either a 220,000 sqft warehouse or 136,000
and Noble. Two projects are underway near the
sqft of retail on the remaining lot. A mix of retail and
intersection of FM 2499 and FM 407 in Highland Village.
industrial buildings will also be constructed on the northeast
Regency Centers is building the 375,951 sqft Shops of
corner of the intersection. Holt Lunsford is the developer.
Highland Village at the northwest corner of the
intersection and Direct
Development is building
Robertson’s Creek to the
south of the intersection at
Dixon Lane in Flower
Mound. That project will total
400,000 sqft. Construction
began in the fourth quarter
of last year on the 450,000
sqft Marketplace at
Highland Village at the
northeast corner of the
intersection.
Construction began
on two SuperTargets during
the quarter. In Grand Prairie,
a SuperTarget will anchor a
582,000 sqft center at the
southeast corner of Hwy.
360 and Camp Wisdom. The
other store is under
construction in Rowlett on
The Northpark Center expansion includes an AMC Theater and brings the mall to 2,351,600 sqft.
Lakeview Parkway east of
Rowlett Road. In Euless, a
One project was announced during the quarter.
Lowe’s Home Improvement will anchor Vineyard Village
Lowe’s Home Improvement purchased the former Cocaat the southeast corner of SH 121 and Glade Road. Burk
Cola building at 6011 Lemmon Ave. in Dallas and plans to
Collins is developing the 400,000 sqft center. Finally,
clear the site for a new store.
Pinnacle Point is under construction at the northwest
corner of I-30 and Cockrell Hill Rd. across from the
Wal-Mart opened Supercenters during the quarter in (left to right) Fort Worth, Westworth Village and DeSoto.
Page 4
Three Legacy Town Center at 5801 Tennyson Parkway in Plano.
2600 Network is the latest addition to Hall Office Park in Frisco.
Office
was the developer.
Construction has begun two medical office
Four office projects totaling 451,415 sqft were
buildings. A new building underway at Methodist Medical
Center Dallas on N. Beckley will contain 100,800 sqft and
completed during the quarter. Duke Construction
completed work on a new
Medical Center at Calloway
Creek, located between
125,000 sqft facility for TNorth Hills Hospital and the
Mobile at Warren Parkway
closed mall, will contain
and the Dallas North Tollway.
80,000 sqft.
T-Mobile also leases 103,000
Three office projects
sqft in an adjacent building and
were announced during the
will eventually employ 1200
quarter. The largest project is
people at the new campus.
Also completed in Frisco is
the 150,000 sqft One Allen
Center, which is being
2600 Network, a new 150,000
developed by Duke Realty at
sqft building in Hall Office
the northwest corner of US
Park. Just to the south, work
75 and Bethany Drive.
was wrapping up on Three
Completion is scheduled for
Legacy Town Center at 5801
Sept. 2007. Next up is
Tennyson Pkwy. in Plano.
Heritage Commons II, a
CarrAmerica developed the
120,000 sqft building at the
154,443 sqft building. Myers
northwest corner of I-35W
Crow completed another
and Legacy Crossing in Fort
building in their Vista Ridge
Worth. And finally, a 100,000
Business Park in Lewisville.
T-Mobile moved to a new campus in Frisco.
sqft medical office building is
Lakeside Office Center I at
planned at the southwest corner of Great Southwest Pkwy.
2850 Lake Vista Dr. contains 101,415 sqft. In Irving,
and Hospital Blvd. in Grand Prairie adjacent to the
Epsilon Inc. moved 340 workers from Dallas offices to a
Renaissance Hospital renovation project.
new 75,000 sqft building at 4301 Regent Boulevard. Koll
Mercantile Distribution Center III in Fort Worth was completed in June.
Lakeside Office Center Bldg. 1 in Lewisville contains 101,415 sqft.
Epsilon Inc. relocated 340 employees from Dallas to Irving.
Page 5
This new La Quinta in Arlington will replace the existing hotel.
Hotel
The biggest hotel news of the quarter is the
opening of the W Hotel and Residences at Victory Park in
Dallas. The hotel has 252 rooms with 61 condos above. In
Arlington, La Quinta opened a 178-room hotel on the site
of their existing hotel at 825 N. Watson Road. The existing
hotel will be razed to make room for ten acres of office and
retail development. Also completed were an 86-room
Hampton Inn & Suites at 2010 Civic Center Dr. adjacent
to the 60,000 sqft Civic Center in Waxahachie and a 77room Homewood Suites at 7800 Dulles near DFW Airport.
Construction began on four hotels. Site work began
at 1400 W. Hwy. 26 in Grapevine on the new Great Wolf
Lodge. The 51-acre site was purchased from Trencor Inc.
and the existing manufacturing facility has been
demolished. The 404-room hotel, which will include a
98,000 sqft indoor entertainment area with a year-round
waterpark, is scheduled to open Fall 2007. In Lewisville, a
161-room Hilton Garden Inn is under construction at the
Homewood Suites opened a new hotel near DFW Airport.
W Hotel Dallas held a grand opening celebration June 29.
northwest corner of SH 121 and Lake Vista. A second
Hilton Garden Inn with 110 rooms is under construction in
Grapevine at 205 W. SH 114. And in Plano, Staybridge
Suites is building a 112-unit hotel at the northeast corner of
President George Bush Tollway and Coit Road.
Three of the five hotels announced during the
quarter will be in Mansfield at the southeast corner of Hwy.
287 and Debbie Lane. The hotels, which are planned within
the next three years, are a Fairfield Inn and Suites, a
Hampton Inn and Suites and a La Quinta. In Dallas,
another hotel is planned for Victory Park. A 120-room
Mandarin Oriental Hotel will be included in Victory
Tower. Completion is scheduled for 2009. Construction will
begin Summer 2007 on a 100-room Holiday Inn at SH 161
and Northgate Dr. in Irving.
The new Hampton Inn and Suites in Waxahachie has 86 rooms.
Page 6
Mixed-Use
Two additions to existing mixed-use projects
opened during the quarter. A 245,000 sqft expansion at
Southlake Town Center includes a Harkins movie theater
and a Barnes and Noble. A Hilton hotel is nearing
completion as part of the expansion. Two new phases have
been added to West Village in Dallas. Phase II at the
northeast corner of Blackburn and Cole Ave includes 75
apartments over 18,000 sqft of retail. An additional 30,000
sqft or retail and 104 apartments have been added to
Phase III at Lemmon and McKinney adjacent to Borders
Bookstore and Chase Bank.
A 245,000 expansion at Southlake Town Square opened in April.
Three mixed-use centers were announced. Denton
Hillview will cover 412 acres at the intersection of I-35E
and W. University. The development will include the
Rayzor Ranch Town Center at the southeast corner of the
intersection and a power center at the northeast corner.
The open-air town center will contain retail, office and
medical space, multi-family and single family units, a 30acre campus for seniors and two hotels. The power center
will include a Wal-Mart Supercenter and a Sam’s Club. In
Arlington, construction will begin early next year on the 70acre Glorypark project, located between Ameriquest Field
and the new Cowboys stadium. The first phase will include
one million sqft of retail, 200,000 sqft of office, and 300 or
more multi-family units. Completion is scheduled for Fall
2008. And in Fort Worth, construction will begin in the first
quarter of 2007 on Museum Place at the northwest corner
West Village Phase III added 30k sq ft of retail and 104 apartments. of University and Camp Bowie. The development will
contain 160,000 sqft of retail, 80,000 sqft of office space, a
hotel and multi-family units.
Construction began on three mixed-use
developments. Park Lane Place at the southeast corner of
Park Lane and Central Expressway will eventually include
700,000 sqft of retail, apartments, and possibly a hotel, to
be built around the existing office buildings. An 80,000 sqft
Whole Foods is scheduled to open early next year. Also
under construction in Dallas
County is Broadstone
2ndQuarter Snapshot
Galleria at the northwest
(cont’d from page 1)
corner of Inwood Rd. and
Galleria Dr. in Farmers
Announced
Office
Branch. The project will
One Allen Center
include 333 multi-family units
Heritage Commons II
Renaissance Hospital Medical Office over 40,000 sqft of street-level
retail space. The third project
mixed-use project underway is
Retail
Lowe’s Home Improvement
Venue at Hometown in North
Richland Hills. The first phase
Industrial
will consist of seven buildings
DFW Airport I
containing 55,000 sqft of
ground-floor retail and 189
apartments.
West Village Phase II includes 75 apartments over 18k sqft of retail.
Disclaimer
These data have been collected through various sources including print and web media, real estate professionals, developers, Chambers of
Commerce and City and Economic Development staffs. While we endeavor to provide timely and accurate information, we make no guarantees.
The North Central Texas Council of Governments makes no warranty, express or implied. Use of the information is the sole responsibility of the
user. Please contact Richard Schell, Research Associate, at 817-608-2387 with any comments or suggestions.
Page 7
Quarterly Activity Summary
Number of Projects Under Development
at the End of the Quarter
Square Footage of Construction
That Began Each Quarter
(Includes Conceptual, Announced and Under Construction)
110
120
104
96
3
106
97
98
Square feet (millions)
100
Number of Projects
3.5
113
107
88
80
60
80
75
75
71
63
62
40
44
20
32
28
35
2.5
2
1.5
1
38
0.5
0
0
2nd05
3rd05
4th05
1st06
2nd05 3rd05 4th05 1st06 2nd06
2nd06
Quarter
Quarter
Retail
Industrial
Office
Mixed-Use
Retail
Office
All Projects Under Development by Type
(Includes Conceptual, Announced and Under Construction)
Page 8
Industrial