PowerSecure Lighting to serve as anchor tenant of 160,000 square-foot project
DALLAS (October 29, 2019) – Stream Realty Partners (Stream) – a national real estate development, services and investment firm, and Cabot Properties, Inc., a private equity real estate investment firm, are proud to announce that the new, 160,000-square-foot development in the Star Corporate Center (previously Frisco Park 25), a 216-acre, master-planned business park located in Frisco, Texas, has achieved full occupancy.
Cabot Properties broke ground in January of 2018 and within six months of construction completion the building was fully leased to two national-credit tenants. The property will function as PowerSecure Lighting’s corporate headquarters. As a leading provider of LED lighting products, PowerSecure will serve as the anchor tenant totaling 75,000 square feet within the facility. The rear-load building will also house local distribution for an undisclosed national retailer.
“We are thrilled to have commenced development of this Class A park with this project,” said Damian Bailey, senior vice president of investments at Cabot Properties. “We’re confident that this building will be well received and are thankful for all of the support the city of Frisco has provided along the way.”
Located in the high growth area of northern Frisco, the property is located on Preston Road at Rockhill Parkway, just south of U.S. Highway 380.
“The demand and robust customer interest for first class, deed restricted industrial facilities of this scale and quality in North Texas by far outpaces supply,” said Bob Hagewood, senior vice president of Stream. “Being able to fully lease a space such as this in less than a year is a real testament to the team’s ability to anticipate demand for space with such close proximity to a high growth area with limited supply of industrial real estate.”
Hagewood, along with Stream’s Cannon Green and Steve Riordan, co-managed the development, leasing and management of the project.