Plano’s Granite makes $120M deal

PLANO – Plano-based Granite Properties Inc. has financed three of its Granite Park office towers for $120 million, which will help the company as it brings its fourth office building and a 300-room hotel to market.

The properties are located near the southeast corner of State Hwy. 121 and the Dallas North Tollway.

The three Class AA office towers are 95 percent leased and total 873,636 sf on the 90-acre site. At full build-out, Granite Park is expected to include more than 2.5 million sf of office space, a hotel, retail shops and restaurants.

Construction is underway Granite Properties latest expansion, a $150 million office tower and hotel project at the southeast corner of the Dallas North Tollway and Sam Rayburn Tollway in Plano. The project is scheduled for completion in spring 2013.

Read more at the Dallas Business Journal.