PLANO - Lincoln Legacy Two, a speculative office building, has kicked off in hopes of capturing some of the increased tenant interest in the West Plano submarket.
The five-story, 132,000-sf office building is the second and last phase of a two-building office complex near the southeast corner of the Dallas North Tollway and Tennyson Pkwy. Construction of the shell is estimated at $17.7 million. Completion is scheduled for second quarter 2014.
Lincoln Property Co. initial phase of the complex is 97 percent leased. According to Jones Lang LaSalle's latest research, the submarket's average occupancy rate is 84 percent, with an average asking price of $21.75 per sf.
This is Lincoln Property's sixth office development within Legacy Town Center.
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