PLANO, Texas – Signaling a win for the region and the landlord, Bradford Commercial Real Estate Services has reeled in Midland Tower Construction as a new Corporate HQ tenant in Collin County, backfilling the lone vacancy in Placid Business Center near downtown Plano.
Midland Tower Construction has signed a long-term lease for 7,193 sf in the 66,473-sf project at 1200 Placid Ave. The company's offer rolled in one day after a tour to stave off the competition. The transaction went full circle in less than 30 days.
"Midland Tower knew there was a lot of activity on this space and moved quickly," says Jared Laake, vice president of Dallas-based Bradford Commercial Real Estate Services. He and Brian Pafford, executive vice president and managing partner, represented the landlord, Kennington Placid LLC.
Midland Tower Construction snapped up move-in ready space in a highly attractive building befitting a suburban corporate headquarters office. The company has just wrapped up the relocation from its namesake city in western Texas, where it will continue to maintain an office. Jack Kemendo and Cameron Rogers of Rubicon Representation were the tenant representatives.
Placid Business Center had two vacancies when Bradford began leasing the project last October for Kennington Commercial, whose vast holdings include 600,000 sf of office/flex industrial properties in Richardson and Plano. The nine-tenant project, now 100% leased, is situated close to Plano's vibrant downtown, North Central Expressway and the President George Bush Turnpike. Dallas-based Kennington's in-house team provides asset management services.
"Kennington is a strong local owner who takes pride in building and maintaining trust with its long-term tenants," Pafford says. "That image in the marketplace helps us to attract quality tenants."