Commercial Real Estate

Plano’s Campus at Legacy West Scores Massive Tenant

Japan-based NTT Data has inked another big lease in Plano.

One of the largest office trades of 2016 has scored one of the largest office leases of 2017. NTT Data, the Japan-based system integration company, has leased 233,000 square feet in the former J.C. Penney campus now known as the Campus at Legacy West.

NTT Data also anchors Gaedeke Group’s One Legacy West, the office project just southeast of the Campus at Legacy West. After initially leasing about 40 percent of One Legacy West in January, NTT Data expanded its lease by an additional 25,000 square feet in June.

NTT Data employees at the Campus at Legacy West and One Legacy West will now be closer.

“There were a few reasons for the move and factors that make this location attractive. We wanted to bring our Plano team members closer together,” NTT Data Senior Director of Communications Corie Pierce said. “Now, employees will be able to walk between buildings and more easily work together in person.”

NTT Data will locate out of its Plano Parkway campus in 2018. “We’re unable to provide employee counts or growth plans at this time,” Pierce said. In January, the company had said it would upgrade the Plano Parkway campus, also known as the former Perot Systems campus, which it acquired when it snapped up Dell Services in 2016.

ESRP represented NTT Data in its real estate search. Colliers International represented the Campus at Legacy West. NTT Data leased one-third of the remaining space at the Campus at Legacy West, leaving 550,000 square feet for lease.

Dreien Opportunity Partners, headed by local developer Sam Ware, purchased the 1.8-million-square-foot Penney campus for $353 million in late 2016. The sale-leaseback with J.C. Penney closed in the early days of 2017.

The new owners at the Campus at Legacy West are also in talks to secure a Trump Hotel at the project, the Dallas Morning News reported Wednesday morning.

Comments

  • The_Overdog

    So that’s why they had to put out the notices about the Plano Parkway site having terribly poisoned groundwater. Makes sense. Great job Plano at competing with yourself for job relocations.