McKinney-based Independent Financial announced April 20 it has purchased an additional 17 acres adjacent to its current headquarters at McKinney Corporate Center Craig Ranch (MKCC), bringing its corporate campus to nearly 30 acres. The move triples the financial institution’s original footprint and sets it up for future expansion with the ability to develop two to three additional office buildings.
“We fully expect to outgrow our current footprint in the next few years,” said David R. Brooks, Chairman, President & Chief Executive Officer of Independent Bank Group. “With our acquisition activity and our fast growth rate, this additional land gives us options and preserves the property to ensure it remains available. We originally chose this location for our corporate campus because it is at the new center of the Metroplex and competes with the other headquarters regional offices along the North Texas Tollway and Legacy West business district.”
Independent Financial completed its state-of-the-art 150,000-square-foot, six-story office building at MKCC in 2019 and broke ground on its second phase of construction, a six-story, 198,000-square-foot building in January of this year which is expected to be completed in 2022.
Craig International is the exclusive broker of MKCC. James Craig, President of Craig International, represented the 17-acre transaction for McKinney Joint Venture, an affiliate of KOAR Institutional Advisors, a West Coast real estate firm who is developing a mixed-use project on 62 acres within McKinney Corporate Center Craig Ranch.
“Big things continue to happen at McKinney Corporate Center Craig Ranch,” said Craig. “Several developers are working on office projects now. Out of the original 163 acres, only about 56 acres of land is still available in the Corporate Center. Companies that are looking to relocate continue to choose McKinney Corporate Center Craig Ranch for its accessibility to major highways and airports and the ability to create a campus environment with a sense of place.”
McKinney Joint Venture has also partnered with nationally renowned office developer, KDC, for the pursuit of build-to-suit opportunities in the Corporate Center. The Dallas developer recently completed a four-story, 100,000 square foot, Class A office building for SRS Distribution’s corporate headquarters in Craig Ranch and is also Independent Financial’s developer.
RPMx and Van Trust announced office buildings in the McKinney Corporate Center Craig Ranch last year and Kaizen Development Partners is also developing an office building in District 121 in a partnership with the McKinney Economic Development Corporation.
“In addition to the value and jobs they bring to McKinney, Independent Financial is a tremendous community partner,” said McKinney Mayor George Fuller. “They’ve made a major investment in the human capital of our community and that speaks volumes. Their support of the Family Health Center on Virginia, which provides advanced medical, dental and behavioral health services to those in the greatest need, will be transformative for this region and makes a significant community impact.”
Plans are underway for a 2.5-acre linear park that creates connectivity from a planned resort hotel, through the core of the McKinney Corporate Center to the HUB 121 and District 121 developments that feature multiple restaurant and entertainment venues facing the Sam Rayburn Tollway. Grand Ranch Parkway is also being extended from the round-about at Henneman Way to Van Tuyl Parkway, creating additional ingress and egress from the TPC Craig Ranch and Craig Ranch Fitness Center & Spa to the Sam Rayburn Tollway.
Independent Bank Group operates in four market regions located in the Dallas/Fort Worth, Austin, and Houston areas in Texas and the Colorado Front Range area, including Denver, Colorado Springs and Fort Collins.