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Opportunity
PowerSecure Lighting sought to relocate their lighting division from Stamford, CT to the Dallas market to serve as their product development and distribution center and the Lighting division’s HQ, within close proximity to the most explosive roof-top development and corporate growth in North Texas.
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Strategy
The strategy was to develop industrial space for the HQ and additional occupiers in the desired location, within close proximity to homeowners, for less price-sensitive users. Stream’s strategy provided space designed for PowerSecure Lighting’s HQ while creating a development opportunity for Cabot properties within the uniquely zoned Frisco Park 25. While PowerSecure would occupy a portion of the building, with space for future expansion, Stream would pursue a retail occupier who required direct access to consumers to lease the balance of the potential expansion space.
Results
Stream’s vision and business strategy for the site paid off. Acting as developer, intermediary, construction manager and property manager, Stream delivered an above standard Class A industrial building on behalf of owner, Cabot Properties. In industrial land-constrained Frisco, Texas, the building was 50% pre-leased to PowerSecure Lighting and, within months of completion, the balance of space in the 160,000 SF building leased to a national Fortune 500 retailer for a last mile distribution facility. This delivery was the lead project for the 216-acre master-planned business park.
