Gladstone REIT has purchased a fully leased 115,200-sf office property in this north Dallas suburb.
The two-story Allen Office Center was built in 1998. Among the tenants
are Frontier Communications Corporation and Micron Technology. CBRE arranged the transaction.
Steve Brown, Real Estate Editor for the Dallas Morning News reports that Billingsley Co. has begun work on two office buildings in Plano. Construction is underway on a 180,000-sf building at 6111 W.
The building is slated to be completed next summer.
ReachLocal Inc. will lease 100,000 sf as its headquarters.
company has also started the three-story, 180,000-sf speculative
building at 8951 Cypress Waters Blvd. Expected to open mid-2014, the
structure will be in Billingsley’s 1,000-acre Cypress Waters
development. Pritchard Associates Inc. is the construction manager for both buildings.