Commercial real estate firm Stream Realty Partners has started the new year with groundbreakings for two North Texas office buildings – one in West Plano and another in Irving.
Stream Realty is building the speculative office projects in two of the busiest office leasing markets in the Dallas-Fort Worth area.
The largest of the buildings is a 166,000-square-foot project under construction in Legacy business park near the Dallas North Tollway.
“We broke ground on the first phase of the Platinum Park development and have begun designs on phase two,” said Stream regional managing partner Chris Jackson.
The 5-story office project is being built on the west side of the tollway at the southwest corner of Tennyson Parkway and Communications Drive.
Originally the building was supposed to be just four floors, but “given where the demand for offices is in that market, we were comfortable with increasing the square footage.”
The office project – which is southeast of where Toyota Motor will soon start its new headquarters – will open in November.
Stream plans to build a larger 300,000 square-foot office building and 20,000 square-foot shopping center on an adjoining tract.
The Dallas-based real estate firm’s Irving project is called Connection Park and is located just south of LBJ Freeway at 4810 Regent Blvd..
The more than 142,000-square-foot building is part of a 300,000-square-foot office park Stream plans to develop on the site.
“The demand for offices with higher density parking and more efficient floor plates is huge in that market,” Jackson said. “The vacancy rates for that product are low.”
The Irving building will also open late this year.