Office high-rises are planned next to the Shops at Legacy on the tollway.
Two of the country’s largest developers are teaming up on a new high-rise project in Plano’s Legacy Town Center.
Cousins Properties of Atlanta and Dallas’ Lincoln Property Co. plan to build two office towers near the northeast corner of the Dallas North Tollway and Legacy Drive.
The planned buildings — Legacy Union Two and Three — will join an existing tower Cousins Properties owns next to the 4-acre site.
The developers are looking for a lead tenant and could kick off the first high-rise with more than 320,000 square feet of space by second quarter of next year.
The builders hope to take advantage of the growing demand for Dallas-area office space as the pandemic wanes and workers return to the office, said Heath Johnson, Cousins Properties’ senior vice president and managing director.
“We’ve redesigned these buildings to be 13 stories each, and the development [of the first tower] is scheduled to take only 15 months.”
Dallas architect HKS designed the two towers, which together total almost 650,000 square feet.
GFF is designing the building interiors.
The first of the planned high-rises would have a unique patterned glass exterior.
Both buildings would have ample outdoor lounge areas for tenants. There are indoor/outdoor fitness studios, food and beverage service venues, a customer lounge and a conference and training facility.
The building sites are within walking distance of retail at the Shops at Legacy.
And the developers plan to operate a private shuttle to connect with the nearby Legacy West Urban Village.
“We brought in an amenity package that works very well for today’s consumers,” Johnson said. “We are in the market now looking for a tenant.”
The proposed office towers are next to the 12-story former Encana Oil & Gas Tower — now called Legacy Union One — at 5851 Legacy Circle on the east side of the Dallas North Tollway.
Cousins Properties took ownership of the 319,000-square-foot building in a 2019 acquisition of Dallas-based Tier REIT. Johnson said the existing building is fully leased.
The developers are seeing an uptick in leasing activity in the surrounding West Plano district, Lincoln Property executive vice president Matt Craft said.
“The market is active and some deals have landed,” Craft said. “We have a lot of inquires” from prospective tenants.
“We have what is really the last building site in the Shops of Legacy area,” he said. “We have the piece that’s been missing.”
Craft said some area companies temporarily extended their existing office leases while their workers were at home during COVID. Many of those stopgap deals are running out.
“The short-term extensions and those things aren’t cutting it anymore,” he said.
“People want to get their workers back in the office.”
Developers Hall Group, Granite Properties and Dallas Cowboys owner Jerry Jones’ Blue Star Land have all broken ground on new office high-rises along the tollway.
And several other new office projects are in the works for the area.
Written by: Steve Brown, Dallas Morning News