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6/06/16
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Transwestern Development Co is about to break ground on 3400 @ CityLine, a 310k sf, speculative office building in Richardson, TX. Located at 3400 N. Central Expressway, the Class A building is adjacent to the 183-acre CityLine campus.
The five-story project will be developed by a joint venture including a fund advised by the real estate business of UBS Asset Management, Transwestern Development Co and Malouf Interests. It is slated for delivery in mid-2017.
The building will feature best-in-class design elements including floor-to-ceiling glass, 10-foot finished ceiling heights and premium common area finishes throughout. The floorplate design allows for efficient, high-density layouts with above-code restroom fixture counts and excess life safety exiting capacity. The property will offer approximately five parking spaces per 1,000 square feet within a secured, multilevel parking structure.
3400 @ CityLine is situated in close proximity to the Dallas Area Rapid Transit (DART) George Bush station and adjacent to Highway 75 and the George Bush Tollway, providing employees with convenient access from all across the Dallas area.
Tenants will further benefit from multiple on-site amenities. This includes a premium deli and lounge area, fitness center with locker rooms and a 40k sf exterior courtyard that can be used for building and corporate functions. The building is also situated on Spring Creek, providing direct access to the extensive hike and bike trail system.
According to Transwestern research, the Richardson/Plano market currently has more than 706k sf under construction, 76 percent of which is preleased. The existing inventory of Class A office space is currently 90 percent occupied. Last year, the market absorbed 1.52 msf of Class A office space.
Transwestern Managing Director Duane Henley and Principal Nathan Durham are providing leasing services. Construction financing is being provided by a consortium led by Amegy Bank N.A., a division of Zions Bank N.A., and includes American National Bank of Texas and Commerce Bank, a Missouri bank and trust company. The consultant team includes:
• Architect: BOKA Powell
• Structural consultant: Cardno Haynes Whaley
• Mechanical, electrical and plumbing engineer: DBR
• Civil engineer: Halff & Associates
• Landscape architect: Pacheco Koch
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