Plano's One Legacy West Office Project Lands $77 Million in Funding With Plans for Second Tower

One of the newest projects in Plano's $3 billion Legacy West development has landed new funding. And the developer is pushing ahead with plans for a second tower. Gaedeke Group built the 14-story One Legacy West tower at Legacy Drive and State Highway 121.The 307,824-square-foot office tower is almost fully leased to tenants including NTT Data, coworking firm Venture X, Tokio Marine Holding and Softweb Solutions Inc. Commercial real estate firm JLL arranged a new loan for the project. Collin County records show that Principal Life Insurance provided a $77 million mortgage for the project. JLL managing directors Tim Jordan and Mark Brandenburg secured the funds. "Office demand across North Texas remains high with our strong economic fundamentals and tremendous quality of life attracting new companies to the region and encouraging organic growth from those already here," Brandenburg said in a statement. "One Legacy West is a terrific development for Gaedeke Group given its location within the most active submarket in the region and the property's immediate access to the strong, growing educated workforce of Far North Dallas." Gaedeke Group is already hunting tenants for the second tower in the project.Two Legacy West "will deliver approximately 300,000 square feet but could expand up to 600,000 square feet," according to JLL.Gaedeke Group is a 24-year-old Dallas-based real estate company with holdings in Arizona, Florida, Tennessee, Texas and Washington, D.C.In the Dallas-area Gaedeke Group also owns office buildings in Uptown, Oak Lawn and Addison.  Continue reading...