2005 Press Releases
Jack Henry & Associates Expands in
Allen, Texas - (October 20, 2005) - Jack Henry & Associates, Inc. has purchased 1025 Central Expressway South, on the northeast corner of Ridgemont Drive and US 75, in Enterprise Business Park, to further their presence in Allen. The company, which provides technology solutions to the financial industry, is located at 1021 Central Expressway (adjacent to the north of the newly acquired building). In 1998 Jack Henry, headquartered in Monett, Missouri, acquired the Peerless Group in Allen and has continued to expand operations here and across the country. The company was recognized by the AEDC in 2002 as the winner of the Millennium Business Award in the National/Corporate Category. “Through organic growth as well as acquisitions, we are a rapidly growing company, with almost 300 employees in Allen,” said David Foss, General Manager of Acquired Companies for Jack Henry. The company recently acquired Select Payment of Irving, TX and will be moving those employees to the Allen campus in October. Select Payment turns checks into ACH transactions, which make funds immediately available to the vendor and replaces manual, paper-based processes. Jack Henry employees will occupy the second floor of the building at 1025 Central while Micron Technology will continue to occupy the ground floor. Dave Noble and Randy Shipman, Trammell Crow Company, represented Jack Henry and the owner of 1025 Central Expressway in the transaction.
Construction to Begin on Allen’s First Upscale, Lifestyle Development By End of
Allen, Texas - (September 12, 2005) - Construction of Allen’s first upscale, lifestyle development will begin by the end of the year thanks to a public-private partnership between developers of Montgomery Farm and the City of Allen. From the neighborhood bistro to the designer boutique, Market Street will feature an eclectic mix of world-class names in retailing, entertainment and dining. The 50-acre development will feature:
350,000 square feet of ground floor retail anchored by a specialty grocer, a book store and a collection of high-end restaurants.
60,000 square feet of class A office space
150 hotel rooms
More than 150 multi-family residential units with a price range that averages $500,000.
The agreement between the city and Montgomery Farm provides for the creation of infrastructure needed to support the urban-style town center that will feature world-class shopping and dining as well as office space and more than 150 town homes. Montgomery Farm spokesperson Amy Monier said that construction of Market Street could begin as early as November with completion of the first phase scheduled for Fall 2007. Tom Carter, an executive vice president with the Trademark Property Company that has been selected to oversee development of Market Street, said he expects to announce the first of the center’s tenants within the next 30 to 60 days. Those tenants are expected to include internationally recognized, best-of-class names in retailing, entertainment and dining. Located at the southwest corner of US 75 Central Expressway and Bethany Drive, Market Street will serve as the eastern gateway for Montgomery Farm, one of the largest environmentally focused developments in North Texas. In keeping with the development’s theme of sustainability and protection of natural resources, the entire town center will be designed to reflect the natural surrounding with pedestrian-friendly streetscapes, enhanced water features, greenbelts, community gathering places and walkways connecting the entire development. “Market Street will provide the affluent and sophisticated residents of Collin County with a destination unlike anything they have experienced before,” said Monier, whose family has owned Montgomery Farm for decades. “The mixture of shopping, dining, public parks, trails and art will be a reflection of the natural surrounding that will be true to the environmental spirit of Montgomery Farm.” Montgomery Farm and the City of Allen City Council are creating a public-private partnership through which the developer will build the infrastructure necessary to support Market Street and be reimbursed for a portion of the costs once the town center opens. “This is a very forward-looking decision by the council for the future of Allen,” said Monier. “There is no risk to the city. We pay for everything up front and we are only reimbursed for a portion of the costs based on the success of the center.” “It’s similar to the partnership the city and Collin County had with the Montgomery Farm developers to build the western connection of Bethany Drive,” said (city spokesperson). “That allowed us to create a parkway that was unique to North Texas and was recognized as the public works Project of the Year by the state.” Located on more than 500 acres of lush landscape bordering Plano and Allen, Montgomery Farm will feature a dozen neighborhoods connected by a network of greenways, trails systems and more than 250 acres of open space. “Market Street at Montgomery Farm will draw visitors who might otherwise not venture beyond their own suburban shopping zone,” said Charisse Canfield, Executive Director of the Allen Economic Development Corporation. “This development is unique to North Texas and creates exciting opportunities to attract new retail, restaurant and entertainment choices to Allen.” More information on Montgomery Farm and Market Street is available at www.montgomeryfarm.com.
BSM Financial Will Locate Corporate Office to
Allen, Texas - (June 23, 2005) - BSM Financial L.P., a Texas-based mortgage lender, is locating its corporate headquarters in Allen, Texas. The company will move into a new two-story, 50,000 square foot office building being built by Cornerstone Development on the southeast corner of US 75 and Ridgemont Drive. With 173 employees, BSM will occupy 32,000 square feet in the building. “We chose the Allen site because it offered excellent Central Expressway visibility and convenient access for many of our employees,” stated Kurt Cummins, President and CEO of BSM Financial. “We anticipate moving into our new facility in early 2006 and look forward to being a part of the Allen corporate community.” The Allen Economic Development Corporation has owned the tract of land for several years and sold a portion of it to the developer for the BSM headquarters. “An attractive office development is precisely the type of use envisioned by our Board and the City of Allen when the AEDC acquired the property several years ago,” stated Charisse Canfield, Executive Director of the AEDC. “Our patience and determination has paid off with this project.” Designed by GSO Architects, an affiliate of O’Brien Architects, the two-story building features an earth-tone stone exterior with one-inch insulated bronze tinted glass and ornamental entryway light fixtures. Cornerstone Development Corporation is developing the building which will be called BSM Financial Center. Approximately six acres of flood plain will be dedicated to the City of Allen. “This is a beautiful property and we were committed to designing a first-class office building that would complement the site,” said Fred Gans, President of Cornerstone. “BSM is licensed in 31 states and closed over $1.8 billion in funding for more than 14,000 residential loans in 2003. Cummins attributes the company’s success to a strong and genuine belief in the “customer for life” principle of doing business. “A substantial portion of our new production continues to come from referrals and repeat business from satisfied borrowers and real estate professionals,” he noted. Founded in Dallas in June 2000, BSM is well-respected in the mortgage banking industry. The company has been named to the Dallas Business Journal’s Top 10 mortgage companies for an impressive three years running. As the leading loan originator for FHA loans originating in Dallas, BSM is placed among the Top 50 for FHA lending nationwide as well as in the Top 10 for FHA lending in the State of Texas. Chris Mason of Jackson & Cooksey represented BSM in the transaction. The remaining 18,000 square feet is being marketed to 5,000 to 12,000 square foot users. Mike McCartan, Mark V Commercial, 972-250-2550, is handling the leasing of the remaining space.
StarCreek Announces First Major
Allen, Texas - (May 15, 2005) - StarCreek announces the first two major tenants in a new commercial development in Allen, Texas: Cinemark USA, Inc. and Life Time Fitness. The new development is scheduled to open in the Summer of 2006. Plano-based Cinemark USA, Inc. will open a stadium-seated 16-screen state-of-the-art theatre. Life Time Fitness will operate a 126,000 square foot health and fitness center, their largest facility in Texas. “This is a major step forward for the retail, dining and entertainment portion of our StarCreek development,” said Jud Heflin, Director of Commercial Development for Blue Star Investments. “Both of these companies are the class of their business and we are excited about having them as a part of our new community. As the first retail and residential development in the area, this is a major first-step in the creation of a great community asset for the people of Allen.” “We are very pleased to be a part of StarCreek in Allen. This will be the 18th theatre in the Dallas-Fort Worth Metroplex.” said Alan Stock, President of Cinemark USA, Inc. “We are committed to bringing ‘the best seat in town’ movie experience to the Allen area.” “Cinemark and Lifetime Fitness are quality anchors that set the standard for retail development in StarCreek,” stated Charisse Canfield, Executive Director of the Allen Economic Development Corporation. “Quality restaurants and retail follow these tenants and will enhance shopping and dining options for Allen and for the region. Located between two of the fastest growing cities in the Dallas-Ft. Worth Metroplex, Allen and McKinney, StarCreek has found a home in an ideal location. A 529-acre residential and commercial community development on State Highway 121 just west of U.S. Highway 75, StarCreek will feature 80-acre retail, dining and entertainment development as well as a 900 home residential development with park and recreation facilities. Cinemark USA, Inc., a leader in the theatre exhibition industry operates 296 theatres and 3,216 screens in 32 states in the United States and internationally in 13 countries, mainly in South and Central America. True stadium seating, wall-to-wall screens, and digital sound are all hallmarks of a Cinemark theatre. Cinemark was also among the first theatre exhibitors to offer advanced real-time internet ticketing at its own website. Visit Cinemark.com for more information, to look up show times or purchase tickets. The Company has signed commitments to open 21 new theatres with 213 screens. Life Time Fitness is a national operator of large and distinctive health and fitness centers. The company’s category-redefining sports, professional fitness, family recreation and resort/spa centers offer 24-hour access to more than 400 pieces of state-of-the-art cardio, resistance and free-weight training equipment, along with a multitude of amenities. Life Time Fitness currently operates 39 centers in eight states: Arizona, Illinois, Indiana, Michigan, Minnesota, Ohio, Texas and Virginia. This will be the 10th location in Texas.
JaRyCo Development Shifts Into High Gear in
ALLEN, TX, May 12, 2005 – JaRyCo Development, LLC, a privately held real estate development firm, based in Allen, Texas, today announced three new projects to be located in Allen. The three office projects are each geared to a different type of tenant and are multi-phased projects which will total in excess of 250,000 square feet when completed. “The city of Allen continues to grow and each potential office user has unique needs; therefore we are developing projects which have been specifically designed to meet those various needs,” indicated Bruce Heller, President of JaRyCo Development. Construction is already underway on one of the projects. Twin Creeks Medical Center Two, a 36,000 SF Class “A” medical office building started construction in March and is set for occupancy in September, 2005. Twin Creeks Medical Center One, the first of three buildings planned for the Twin Creeks Medical Center, was completed in May of last year and is fully occupied. “The successful lease up of Twin Creeks Medical Center One along with the strong financial backing of JaRyCo Development has allowed the second phase of our project to move forward and be started on a speculative basis,” indicated John Waller, who along with Jeff Anderson at Transwestern Commercial Services, are providing leasing services to JaRyCo for Twin Creeks Medical Center Two. Twin Creeks Medical Center Two will be similar to the first building with Class “A” finishes, state-of-the-art energy management system, access control, video and security systems, high speed voice and data communications, full electrical metering and remote building controls. JaRyCo is close to finalizing leases with several tenants at Twin Creeks Medical Center Two which is anticipated to provide a range of physician services similar to Twin Creeks Medical Center One. Twin Creeks Medical Center One also houses support services for the entire complex, including a full service imaging center providing MRI and CT services (expansion is underway to provide X-ray and sonogram as well), an onsite medical lab, and physical therapy services. Other tenants at phase one include two pediatric practices, a family medicine practice, an internal medicine practice, an OB-GYN practice and a pain management group which also includes an on-site surgery center. JaRyCo anticipates starting construction in late May, 2005 on The Corporate Center at Twin Creeks. The Corporate Center is a multi-building office/tech project which will ultimately encompass over 20 acres of land and 250,000 SF of buildings. The project will include both office/tech space for lease as well as build-to-suit facilities either for purchase or for lease for office/tech tenants. The project will include one and two story buildings providing a rent rate lower than the typical office space presently constructed in Allen. The first building planned, Corporate Center One, will provide 23,000 square feet of office/tech space in a one story building and is located at the southeast corner of Watters Road and Raintree Circle. The location provides easy access and visibility from U.S. 75. JaRyCo Development worked closely with the Allen Economic Development Corporation to target a project which specifically meets the needs of companies looking to relocate to the Allen area. “There is great demand for this product type in Allen; however, there are not many existing buildings that can accommodate the smaller to mid-size user. By working closely with JaRyCo, we will now have additional opportunities to bring new businesses to Allen,” stated Charisse Canfield, Executive Director of Allen Economic Development Corporation. The first building will include direct access for tenants with no common area in the building, flexible office hours for each tenant, high speed voice and data communication, state-of-the-art building systems and upgraded landscaping from that typically seen on an office/tech office product. The third project JaRyCo anticipates beginning later this year is truly a unique project based on the location and site amenities. Last year, JaRyCo purchased a 15 acre tract at the northwest corner of Bethany Road and Watters Road. The project, The Woods at Watters Road, contains over 1,500 trees and is bordered on the west by Watters Creek. Unique topography and heavy tree cover, while providing challenges to the development, will also provide a unique office environment. JaRyCo anticipates beginning construction within the next few weeks on the first project, an office condominium development which will contain approximately 16,000 square feet. The building however, is really composed of four smaller buildings, each containing 4,000 square feet which provides small to medium size office buyers a truly unique office environment. The individual buildings, with glass walls on all four sides, provide a panoramic vista into the heavily wooded site. “The views on this site will be spectacular,” indicated Jeff Anderson with Transwestern Commercial Services. The project will be constructed with a pier and beam foundation which will minimize impact to the existing topography and trees allowing the buildings to be set right in the midst of the heavy tree cover. The crawlspace foundations provide easy access for under floor plumbing and electrical installation, provides an opportunity to have balconies extending above the forest floor with direct access from the office space and minimizes the potential foundation movement problems found on residential type office buildings. The office condominiums are being sold as either shell units or as turnkey units depending on the buyer’s preference. “Allen is a great place to live and work”, indicated Heller. “By continuing to develop high quality projects that meet specific needs, we hope to help, in a small way, to maintain and improve that quality of life.” For further information contact Bruce Heller at JaRyCo Development, LLC at (214) 495-8581.
Applied Signal Technology Expands in Allen,
Allen, Texas - (March 20, 2005) - Since November 2004, Applied Signal Technology, Inc., (NASDAQ: APSG) has been assembling a team of electronics intelligence experts operating from temporary offices at “The Atrium”, executive office suites at 1333 McDermott in Allen. In August, the newly formed Electronic Systems Division (ESD) of Applied Signal Technology (AST) will move into permanent space at 601 Century Parkway Suite 300 in Allen. The company, headquartered in Sunnyvale, CA has leased approximately 30,000 square feet in the 102,000 square foot facility which is also occupied by ICBS and WiQuest. Applied Signal Technology (AST) designs, develops and manufactures advanced digital signal processing systems, equipment, and software to collect and process a wide range of telecommunications signals for intelligence. AST’s core competency is processing telecommunication signals for communications intelligence (COMINT). The company is recognized as an industry leader in providing COMINT solutions. AST is considered to be a national asset in the campaign against terrorism. The Electronic Systems Division in Texas will focus on Electronic Intelligence (ELINT) and related disciplines, along with Systems integration to provide diversification opportunity for AST. The Company reported revenue for fiscal year 2004, ending 31 October, 2004 of $142.8M. “Allen was an ideal choice for this division of Applied Signal Technology in that it is close to some notable prime contractors and has an expanding technical employment force,” stated Robert Blanchard, Vice-President of the Electronic Systems Division of AST. “This new facility fits our growth plans and accommodates product and systems integration growth.” Blanchard will oversee the local operation. “Applied Signal Technology is recognized as a leader in signal intelligence solutions and a valuable addition to our corporate environment,” said Charisse Canfield, Executive Director of the Allen Economic Development Corporation. “We have seen a growth in defense-related industries locating to Allen and anticipate this will stimulate continued activity in the future.” The company anticipates moving into their new offices in August 2005. The Company plans continued growth at this facility. Applied Signal was founded in 1984 and has engineering offices in Maryland, Oregon, Utah and Virginia. Chris Teesdale and Mark Collins of Swearingen Realty Group LLC represented Applied Signal Technology in the lease negotiations. Mike McCartan of Mark V Commercial Inc. represented the landlord.
Advanced Optical Components Locates to
Allen, Texas - (March 15, 2005) - Advanced Optical Components, a division of Finisar (NASDAQ: FNSR) has leased 162,200 square feet of space at 600 Millennium Drive in Allen’s Millennium Technology Park. The fiber optics component company has experienced robust growth and will have at least 150 employees at the Allen location. Advanced Optical Components is a world-leading supplier of key optical components known as Vertical Cavity Surface Emitting Lasers (VCSELs) and Detectors. These are used in high-speed communication and data storage/retrieval equipment for banks, universities, industrial campuses and hospitals. “This facility is ideally suited for our operation,” said Danny Schoening, Vice President of Operations for Advanced Optical. “Allen provides excellent access to the skilled talent we need to continue to grow and maintain our competitive edge.” Advanced Optical was founded in Richardson as Spectronics in 1971. It was purchased by Honeywell in 1978 and was acquired by Finisar, headquartered in Sunnyvale, CA, in March 2004. FSI International, which located to Allen in 1997, will continue to occupy 45,000 square feet of space in the building. The Allen Economic Development Corporation (AEDC) was instrumental in recruiting Advanced Optical Components to Allen. “This is a double-win for Allen,” stated Charisse Canfield, AEDC Executive Director. “With Advanced Optical, we add another quality company to our community and retain FSI, one of the very first companies to locate here.” Brant Landry, Jeff Ellerman and John Gates from the Staubach Company handled lease negotiations for Advanced Optical Components. Tom McCarthy from Staubach represented FSI International.
Nextel Opens New Center in
Allen, Texas - (March 1, 2005) - Nextel Communications (NASDAQ:NXTL) has opened a Retrofit and Refurbishment Center in Allen Station Business Park. The company leased 46,528 square feet at 1277 Allen Station Parkway, which is in the building on the north side of the business park. The Center, which is the only one of its kind in the wireless industry, manages older generation and decommissioned cell site equipment, assessing it for reuse or recycling of component materials. The Center will triage, refurbish, test and certify the equipment if it is viable for reuse. Equipment deemed not viable for reuse is broken down and recycled. The facility has twelve engineering and operations employees. “Nextel is pleased to join the Allen community, with its central location, access to the Interstate Transportation System and ideal working environment,” according to John Duty, Manager of Public Affairs for Nextel. Nextel, a FORTUNE 200 company based in Reston, VA, is a leading provider of fully integrated wireless communications services and has built the largest guaranteed all-digital wireless network in the country covering thousands of communities across the United States. Greg Cannon and Riis Christiansen of Transwestern Commercial Services represented Nextel. Dave Noble of Trammell Crow Company represented ING Clarion Partners, developers of Allen Station Business Park.
WiQuest Communications Secures
Allen, Texas - (February 16, 2005) - WiQuest Communications, Inc., headquartered in Allen, recently closed a $13-million round of institutional funding, led by Menlo Ventures and Palomar Ventures. WiQuest is a privately-held fabless semiconductor company that designs, develops and supplies ultrawideband (UWB) solutions to PC, consumer electronics and mobile systems companies worldwide. The new capital will be used by WiQuest to hire additional staff, expand wireless research and development activities, and support marketing, interoperability testing, and production release of WiQuest’s advanced UWB products. “It is indeed a pleasure to have Menlo and Palomar join with us in our quest to bring this new wireless technology to the market,” said Matthew Shoemake, Ph.D., founder and President of WiQuest. “Our vision for UWB leverages the unprecedented performance opportunity that the FCC and other worldwide bodies are enabling and will allow consumers to finally ‘cut the cord’ and enjoy the wireless benefits of freedom and flexibility.” WiQuest has expanded operations into approximately 10,000 square feet of space at 601 Century Parkway in Allen’s Millennium Technology Park. “We are fortunate to have found space to expand in Allen, as the quality of the community has been a positive factor in our efforts to recruit top talent to WiQuest,” stated Shoemake. The building is also home to ICBS. Chris Barnet, Cawley Commercial, represented WiQuest in the lease negotiations. Mike McCartan, Mark V Commercial, represented the building owner.