Partnership announce plans for office project in McKinney
New 200,000-square-foot Class A office property will neighbor Craig Ranch’s central park and retail at District 121
DALLAS, August 19, 2020 – On behalf of Kaizen Development Partners, in partnership with McKinney Economic Development Corporation (MEDC), JLL announced plans for a new 200,000-square-foot spec office project in the District 121 mixed-use development located at the northeast corner of TX-121 and Alma Drive in McKinney, Texas. Development on the eight story, fully-amenitized, Class A office project is expected to begin Q1 2021.
“It’s truly a privilege to be able to help catalyze a mixed-use development of this nature in a premier community,” said Derrick Evers, Managing Partner/CEO, Kaizen Development Partners. “The vision that the City of McKinney has is clearly centered around quality and innovation, which are some of the foundational elements for all our developments. We believe the fundamentals of ‘Visibility, Access, Amenities, and Value’ could make our development one of the most sought-after locations for tenants.”
“Kaizen is a world-class developer and we are excited to have them as a partner and stakeholder in our community,” George Fuller, Mayor, City of McKinney. “Located adjacent to Craig Ranch, District 121 will be a destination retail, corporate, and restaurant, mixed-use development in McKinney, and the office space that Kaizen brings to the table sets the highest standard. It is with this caliber of partnerships that District 121 is assured to be a great success in our community.”
“The City of McKinney’s vision has finally come to fruition for a true mixed-use environment,” said David H. Craig, Chairman/CEO, Craig International. “As the developers of District 121, we were pleased to hear that Kaizen Development Partners, City of McKinney, and the McKinney Economic Development Corporation have successfully agreed to this partnership. District 121 will have a number of restaurants with patios overlooking a large park that will serve the pent-up demand in the City, Craig Ranch, as well as the existing, adjacent urban residential.”
JLL’s Blake Shipley and Chis Doggett are leading the marketing and leasing efforts for the project. The architect is Perkins & Will led by Justin Parscale and Ron Stelmarski.
The project will offer immediate access to the central park and retail offerings at District 121. Hub 121, west of Alma, will provide additional walkable retail and restaurants.
“The MEDC is excited to be partnering with Kaizen Development Partners in bringing their newest office building to the District 121 mixed-use development in McKinney,” said Peter Tokar III, President and CEO, McKinney Economic Development Corporation. “We greatly appreciate their investment in the first purely speculative office building in McKinney. We believe as they do that their new office building represents the shifting trend in the office market that places value not only on the location of the building but also on the community in which it resides and the quality of place it provides.”
The project is expected to deliver Q2 2022. Kaizen Development Partners can accommodate growth and additional demand from users with additional phases within District 121.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Kaizen Development Partners
Kaizen Development Partners (KDP) is a commercial real estate developer specializing in office, mixed- use, and healthcare developments. KDP brings unencumbered creativity, marketplace knowledge and strategic vision to the built environment. Over the past ten years alone, the principals at KDP have developed approximately 3 million square feet of institutional quality projects valued at over $1 Billion. KDP is rooted by senior-level principals committed to delivering extraordinary value and service through innovative thought leadership, effective market positioning, conservative risk management, and hands-on project management. For further information, visit www.kaizendp.com.