Accolades

CMC building 80,000sf office space in Lewisville
Tarrant County's Business Journal
by Kelli Rodda

LEWlSVILLE - CMC-Commercial Realty Group of Dallas broke ground on two office products totaling 80,000 square feet on 10 acres at Corporate Drive and interstate 3SE.

Lakepointe Office will offer class A and class B+ space and underground parking.

Lakepointe Tech will be a single-story building with flex space. A 4-foot truck dock will be available, said Subash Gaitonde of CMC.

The tech building is 25 percent committed, and. the Robert Lynn Co. of Dallas is leasing the facility. Brad Selner of CB Richard Ellis is leasing the office product.

Both buildings will be available mid January.

"In our research we found practically no office space in Lewisville," Gaitonde said. "There are lots of rooftops, there's retail and there is industrial, but the city is lacking in office space."

Gaitonde said the Lakepointe development is 10 minutes from DFW International Airport, with Texas 121 being widened and improved. .

"And the city is very receptive to new business, and they offer triple freeport," Gaitonde added. .

Selner said CMC is responding to a pent up demand for office in Lewisville. .

"All the natural segments are in place to add office development - the final piece of the component," Selner said.

Companies in Dallas, Plano, Las Colinas and the Telecom Corridor are fiercely competing for employees; and they're looking to the secondary markets, Selner added.

"Lewisville is starting to see it. and Frisco, McKinney and South Arlington have already seen it," Selner said.

Today Realty Advisors of Dallas is the financing partner, and Arlington-based Bob Moore Construction is the general contractor. This is one of 11 projects Bob Moore is working on for CMC throughout the Metroplex, said Phillip Bell of Bob Moore.

CMC also purchased 78 acres at 1-35 and Denton Tapp Road in Lewisville for a mixed-use development. The company plans to start construction on the infrastructure by October. The first two buildings planned will be an 120,000 square foot office building 2nd 100,000 square feet of flex space.

Highpoint Oaks also will offer a shopping center situated on 18 acres with office and industrial space located behind remit and restaurant development, CMC is in negotiations with an extended stay hotel for the site as well.