Owners of an Addison office building are planning a $2 million renovation. For the first time, town officials gave the building owners an amenity investment grant to support the work.
Addison council approved a $200,000 grant for owner Landmark Quorum Holdings, LLC to support renovations at The Landmark, an eight-story office building totaling 160,000 square feet at 14800 Landmark Boulevard.
Sunwest Real Estate Group represented the owner, Landmark Quorum Holdings, LLC. It’s the first such grant given by Addison, said Wayne Emerson, the town’s director of economic development.
The town is looking for a way to make its office inventory more competitive in today’s market. Addison’s office vacancy rate is 20.1%, above the region average of 17.8%.
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“We would take the Pepsi Challenge with any other office market in D-FW just on our ability to attract an education workforce,” he said.
“But where we just couldn’t compete with a competitive modern office product.”
Sunwest will oversee the renovation as part of its ongoing management of the property. Work will include a completely renovated lobby, as well as the creation of a new amenity floor with a tenant lounge and conference center.
Redesigned, move-in-ready tenant suites will also be built. Common area improvements will be made throughout the building.
The work is underway and expected to be finished by the second quarter. Entos Design is leading the design effort.
Funds for the project will come from the town’s economic development fund.
Built in 1985, The Landmark is currently 65% leased. The goal is to get the building above 85% leased. Both Emerson and Sunwest hope The Landmark becomes the blueprint for improvements to office buildings across the town.
“Everyone always talks about a flight to quality. But we’ve kind of recoined to flight to relevance. Even assets that aren’t trophy assets but are well maintained — even if they’re 20, 30, 40 years old — saw a nice influx of tenants,” said Marc Grossfeld, Sunwest’s managing principal.
“Our hope is to have a success story here.”
Centurion American makes progress
Farmers Branch-based Centurion American Development Group is progressing on two of its key projects in northern Dallas-Fort Worth, the firm said.
The company selected D.R. Horton, Lennar, First Texas Homes and Coventry Homes as four of its builders for its Platinum Ranch development in Grayson County.
The 2,000-acre property is expected to hold more than 4,200 single-family homes, up to 3,000 apartments and other mixed-use development.
More builders are expected to sign on for the project’s first phase, which will include 962 lots.
Construction is expected to begin before April and lots will be delivered to homebuilders in Q2 2027.
Work is also progressing on Centurion American’s Collin Creek development in Plano.
Roughly 130 homes at the site are occupied, and 402 lots have been delivered to builders. Another 98 lots will be delivered by the end of March, the firm said.
Plans for 412 apartment units were submitted to the city for review. Construction is expected to begin this summer. A senior living complex will be built at a later date.
Streets are currently under construction, and work on the 8-acre Starlight Park will finish once that’s finished.
Dallas developer taps data center exec
Dallas-based KDC is expanding its data center development efforts.
The firm named Robert Child as executive vice president of data center development. Child’s will lead and scale the firm’s data center platform nationwide — overseeing strategy, site development, capital alignment and other tasks.
Child has over 15 years of experience in delivering build-to-suit projects and data center solutions. Prior to joining KDC, he held leadership roles at CyrusOne.
KDC has previously partnered with Digital Realty Trust, State Farm and others throughout the United States on developing multiple data center projects.
KDC’s data center pipeline extends coast to coast, and the firm is actively involved with projects in Texas, Georgia and North Carolina.
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