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Hall Financial Group Acquires 62-Acre Site For
Class A Office Park In Richardson
Office Park Will Be Largest Speculative Class A Office Development Ever in Telecom Corridor® Area
RICHARDSON, Texas – July 9, 2007 – Hall Financial Group, a diversified holding company that is active in commercial real estate development, has acquired a 62-acre land parcel at the southwest corner of the President George Bush Turnpike and Custer Road in Richardson. Hall will develop the site into an office park featuring multiple Class A office buildings. The project is the largest speculative Class A office development ever announced in Richardson’s Telecom Corridor® area.
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The seller of the land is the Dal Briar Corporation, an investment company that has owned the land, part of the Turnpike Commons West site, since 1993. Construction on the first building in the office park is expected to commence in 2008.
As part of the City of Richardson’s project support, the city is expected to develop an adjoining park and trail network, adding to the natural appeal of the site’s surroundings. A 126-room, $10-million Hilton Garden Inn is already under construction on a four-acre tract adjacent to the Hall Financial Group project site, with completion of the hotel expected for January 2008.
We are extremely excited about adding this prestigious office development in Richardson,” said Steve Mitchell, Mayor of Richardson. “The development of a visionary project with premium amenities reaffirms the City of Richardson’s commitment to attracting the most outstanding and innovative companies, who view the city as a regional and global leader in technology, financial services and other key industry sectors, and who also rely on the city’s high-tech infrastructure and Richardson’s highly educated workforce.”
Brent Wicker and Randy Church of Wicker & Associates represented Hall Financial Group in the transaction, and David Hicks of the David Hicks Company represented the Dal Briar Corporation.
“Richardson continues to add premier developments that enhance our appeal as a live, work and play destination for both corporate innovators and residents,” said Richard Ramey, chairman of the board for the Richardson Chamber of Commerce and regional bank president for Legacy Texas Bank. “We are confident that this new office park will be another jewel in our crown, and that Richardson is poised for continued prosperity due to our strong partnerships between the City, Chamber, business leaders, educators and residents.”
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