Regent Properties to Invest $100M in Corporate Campus Renovation in Plano

by Haisten Willis

PLANO, TEXAS — Regent Properties plans to redevelop Legacy Central, a mixed-use campus located at Legacy Drive and Central Expressway in Plano. Regent acquired the property on Dec. 17, 2015. The $100 million campus renovation will accommodate office tenants ranging from 25,000 to 1 million square feet in four existing buildings on 84 acres. The buildings will be retrofitted while undeveloped land will be readied for complementary uses, such as restaurants, a hotel and retail, as well as additional mid-rise office buildings in the future. The site is entitled for up to 3.7 million square feet, allowing office tenants an expansion opportunity via additional office buildings on a build-to-suit basis. A ground breaking is planned for the second quarter of 2016. The property was acquired from Texas Instruments (TI), which had owned the site since the 1980s and built the four office buildings and fitness center for its own use. TI will lease back two of the buildings through 2016, finalizing a phase-out from the campus. The renovations will include indoor and outdoor conference rooms, a 150-seat auditorium, 30,000-square-foot fitness center, yoga rooms, lap swimming pool, sand volleyball court, tennis court, rock climbing wall, indoor basketball court, one-mile jogging/biking trail, coffee kiosks, campus-wide Wi-Fi, four-acre park, and structured and surface parking of up to 5.5 spaces per 1,000 rentable square feet. Common area work will be done in two phases. Phase I will take place in 2016 and Phase II in 2017 after TI vacates the property.

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