Plano-based Granite Properties has begun construction on its $150 million office tower and hotel project, which will give the West Plano office park a stronger amenity base.

The speculative 12-story, 300,000-square-foot Granite Park IV Class A office tower, and Hilton Granite Park, a 300-room conference hotel, will be located in Granite Park at the southeast corner of the Sam Rayburn Tollway and the Dallas North Tollway.  The office building will feature a fitness center, conference space, a five-level parking garage and landscaped walkways with water features.  The 262,500-square-foot hotel will feature 35,000 square feet of conference space, a restaurant, retail space, fitness center and an outdoor pool and lounge.  Completion is scheduled for mid-2014.

"We are confident that our location and amenities will lease up the office building," COO Greg Fuller told me Monday afternoon. "We plan to have about a third or half the building leased prior to its opening, based on our history."  Granite Properties' plans to market the office space to $31 plus electric, Fuller said.  "We're excited for this area to continue its growth," he said. "It's a great location where the customers want to be." (3/25/13)

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