Dallas-based Lincoln Property Co. is kicking off a speculative office building in Legacy, in hopes of capturing some of the increased tenant interest in the West Plano submarket.
The five-story, 132,000-square-foot office building, known as Lincoln Legacy Two, is the second and last phase of a two-building office complex near the southeast corner of the Dallas North Tollway and Tennyson Parkway.
Lincoln plans to market the building in the mid-$20s per square foot. The firm's 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.
This is Lincoln Property's sixth office development within Legacy Town Center. (7/26/13)