January 8, 2016
Regent Properties is planning to invest upwards of $120 million to redevelop the former Spring Creek campus that housed Texas Instruments in Plano, Texas. The Los Angeles-based real estate firm says it plans to renovate four existing buildings at the 84-acre site, designed to attract office occupiers seeking anywhere from 25,000 to a million square feet.
The site, located at Legacy Drive and U.S. 75, also includes undeveloped land that Regent Properties says is ideal for restaurants, hotels, retail and mid-rise office buildings. Planned improvements include a 150-seat auditorium, 30,000-square-foot fitness center, a mile-long biking and jogging trail, a four-acre park, and landscaping.
Regent Properties acquired the site from Texas Instruments last month, and plans to break ground this year on its first phase, with a subsequent phase planned for 2017. Texas Instruments is expected to fully vacate the property by the end of this year.