VanTrust Real Estate Brings Luxury Spec Office Building To McKinney’s Craig Ranch
The developer’s future McKinney Corporate Center II building is a four-story facility bordering the Sam Rayburn Tollway and VanTrust’s existing, 100% leased McKinney Corporate Center I office product.
North Texas suburban cities near the Sam Rayburn Tollway are lacking adequate office space to keep up with potential corporate demand for luxury space. Around this time last year, office brokers in DFW warned that the 121 Corridor, which includes Allen and McKinney, had pent-up demand and the second-lowest Q2 2019 office vacancy rate along with one of the highest absorption rates in the area.
Total inventory data from CBRE's Q2 2020 Richardson/Plano office market report (which includes most of Allen and McKinney) shows the area with only 12M SF in net rentable Class-A office space, compared to 22.2M SF in net rentable Class-A office space in the Dallas Central Business District.
In the last few years, there has been a focus on pulling more office product and corporate tenants into the North Dallas suburbs.
Craig Ranch offers corporate tenants access to the TPC Craig Ranch Golf Course, now home to the AT&T Byron Nelson and proximity to entertainment and food options along the Sam Rayburn Tollway, including the soon-to-be-opened Hub 121.
Holt Lunsford's John Dickenson and Holden Lunsford are handling leasing efforts.
CORRECTION, July 24, 12:10 P.M. CT: A previous version of this article misspelled the name of Holt Lunsford's John Dickenson. The story has been updated.