Cawley Partners on June 8 announced its newest Class A office development, The Parkwood. The 120,000 square foot building will be located at Windhaven and Parkwood, just off the Dallas North Tollway in Plano. The four-story development will feature open, modern design elements and 4:1000 surface parking.
The Haggard family, owners of the land site, along with future building tenant, First United Bank, and developer Cawley Partners are entering into a joint venture to develop The Parkwood. “The Haggard family is pleased to be partnering with Cawley Partners and First United Bank to bring this quality project to Plano,” said Rutledge Haggard.
Designed by Gensler, Parkwood offers spacious floor plates, a fully equipped fitness center, and convenient access to the Dallas North Tollway. “The Parkwood development is an extremely attractive building, offering brand new office space in a clean atmosphere, not to mention its proximity to area restaurants, retail, and entertainment,” said Bill Cawley, chairman and CEO of Cawley Partners.
The building is currently 50% preleased to First United Bank, with the entire fourth floor and parts of the first and third floors available for lease. The project is expected to break ground in September of 2020 and deliver in the fourth quarter of 2021.
This location will serve as the corporate headquarters for First United Mortgage, a mortgage bank in Oklahoma and Texas originating $2.8B in home mortgages annually, with over 120 originators and servicing $7.7B in home mortgages for others. They will also open a full-service banking location on the main floor to service customers of Plano. “First United is excited to deepen our commitment to Plano and bring our purpose of inspiring and empowering others to Spend Life Wisely alive within this community,” said First United Bank CEO, Greg Massey.
Established in 1900, First United has more than 85 bank, mortgage and insurance locations throughout Oklahoma and Texas. It has assets of more than $8 billion, and it is among the largest privately held community banking organizations in the U.S., according to a news release on the new lease.
The Parkwood is currently being preleased by Kristi Waddell of Cawley Partners.