PLANO, Texas — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here.
A Florida-based commercial real estate firm appears to be starting construction on a multi-building distribution site in Plano after recently receiving approval for an economic development grant.
Orlando-based Foundry Commercial plans to start work on two buildings at 2700 W. Plano Parkway next month and deliver both facilities in February 2026, according to planning documents filed with the state.
Construction on a 226,860-square-foot building is estimated to cost roughly $10.6 million while work on a second 96,072-square-foot building is estimated to cost about $5.3 million, according to a filing with the Texas Department of Licensing and Regulation. TDLR filings are preliminary and subject to change, but they provide an early indication of construction plans.
Dallas-based GSR Andrade Architects will serve as the design firm on the project, according to the filing.
The Plano City Council voted in June to provide Foundry Commercial Holdings LP a $750,000 incentive grant to redevelop a vacant 275,000-square-foot building at the same address.
The economic development agreement requires Foundry to demolish the existing building, which previously housed financial services firm Transamerica’s Plano office, replace it with at least 300,000-square-foot manufacturing, industrial and office space, and add property improvements with a minimum value of $21 million by the end of 2026.
It was not immediately clear if the building for which the company received the incentive was one of the structures referenced in the TDLR filings or a third building planned at the same address. A spokesperson for the company didn’t respond to a request for comment.
Founded in 2007, Foundry Commercial focuses on the Sun Belt markets and operates developments across several asset classes such as office, industrial and multifamily. The firm employs over 2,900 associates and has 72 million square feet under leasing and management, according to its website.
Raising Cane’s Restaurants LLC also recently received an incentive package to relocate its support hub to a 400,000-square-foot space at 5320 Legacy Dr. in Plano.
The Plano City Council approved an approximately $6.2 million economic development agreement to facilitate Raising Cane's move during an Aug 12 meeting. The fast food chain plans to relocate its current employees to the new building and generate about 520 new jobs, for a total of about 1,020 jobs. The company will also invest at least $20 million in building improvements to the property that was once part of the Electronic Data Systems campus.
