Gaedeke Reels In Top Tech Tenant at DFW Office Project

By Barbra Murray, Contributing Editor

Legacy West development in Plano, Texas

Plano, Texas—Gaedeke Group LLC just went from zero to 40 at One Legacy West, its 307,800-square-foot office tower within the $3 billion Legacy West mixed-use development in Plano. The full-service real estate company recently signed a deal for NTT Data International LLC to house its headquarters in 126,700 square feet, leaving the Class AA suburban Dallas property 41 percent leased.

Gaedeke relied on in-house representation in the transaction, while E Smith Realty Partners stood in for NTT Data in what is being called one of the largest new office leases at a multi-tenant property in the Dallas-Fort Worth metroplex within the past 12 months. “The metroplex area has definitely been on the upswing, specifically in the Legacy West area. Plano—it’s just been on fire,” Belinda Dabliz, vice president of leasing with Gaedeke, told Commercial Property Executive. “I don’t think it’s slowing; we’re still seeing companies continuing to look to Plano and the DFW area for corporate relocations.”

Effectively placed at an entrance to the 240-acre Legacy West urban development, the Morrison Dilworth + Walls-designed One Legacy West at 7950 Legacy Drive sits on 11 acres adjacent to the headquarters of Toyota and FedEx. NTT Data will set up shop on five floors of the 14-story building, making room for new employees and additional staff currently located at other offices in Plano. It’s good to be lead tenant. NTT Data’s name will grace the top of the LEED Gold-certified tower, and with the company’s commitment in place, Gaedeke plans to take One Legacy West’s amenity offerings to new heights with the addition of an upscale culinary venue featuring an on-site chef and catering team.

There’s something about One Legacy West—and the DFW area. “I’ve been in commercial real estate for 26 years and have never seen our market outpace other markets like it has been,” Dabliz remarked. According to a fourth quarter 2016 report by commercial real estate services firm CBRE, the robust DFW office market posted positive net absorption for the 26th consecutive quarter, and the Richardson/Plano area outperformed all other submarkets with net absorption totaling 393,000 square feet. “We’re crossing our fingers and holding our breath, but I think it will continue,” she added. Plano is quickly turning into an 18-hour city and I think we’ll continue to see that success. It’s exciting.”

One Legacy West is scheduled to open its doors by the end of January.

Rendering courtesy of Gaedeke