More Office Space Gets Underway in Allen

Some 105,000 square feet of new office space is underway in Allen courtesy of Heady Investments.

The Plano-based developer broke ground recently on its four-story Allen Tech Hub project, located just south of the Watters Creek at Montgomery Farm shopping center. Building amenities will include a tenant lounge, on site security, a conference room and a proposed drone landing pad. Set to deliver in April 2022, the property is already receiving attention from prospective tenants, says Heady Investments Founder Randy Heady.

“We believe the Allen Tech Hub has the right mix of amenities and will deliver at the perfect time to meet market demand,” he said.

Designed by ANPH Architects, the speculative project will be built by Henry Building and Engineering and is being leased by Heady Investments itself. Texas Bank and Trust provided a construction loan for the project.

For a small city of just under 110,000 residents, Allen has some major projects in the works and is garnering a lot of attention from corporate prospects. About 70 prospective companies are in the city’s active pipeline, according to Bowman. Besides Allen Tech Hub, the city also has more than 7 million square feet of existing and proposed office opportunities, as identified in The Business Journal’s recent Relocation Station article about the area.

“I see Allen as the new epicenter for growth in the technology sector in North Texas,” said Sayres Heady, executive vice president and partner at Heady Investments. “On top of that, the city itself also provides such a great quality of life with good schools, safety and amenities.”

Last year, Heady Investments delivered a new headquarters for KVP International, which relocated from California to McKinney. The company also delivered HQ2, a 13-story, 210,000-square-foot office building in Plano. That building is currently awaiting its first tenant.

(Source: Dallas Business Journal – March 29, 2021)