{"id":1004051547,"date":"2012-02-06T21:34:13","date_gmt":"2012-02-07T05:34:13","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=33865"},"modified":"2022-12-02T09:27:48","modified_gmt":"2022-12-02T17:27:48","slug":"faa-to-build-160m-hq-hines-jp-morgan-venture-buys-computer-associates-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/faa-to-build-160m-hq-hines-jp-morgan-venture-buys-computer-associates-building\/","title":{"rendered":"FAA to Build $160M HQ; Hines-JP Morgan Venture Buys Computer Associates Building"},"content":{"rendered":"

By Camelia Bulea, Associate Editor<\/p>\n

The Federal Aviation Administration plans a $160 million build-to-suit project in Dallas for its southwest regional headquarters.<\/p>\n

One of the largest government real estate projects in the United States this year,\u00a0the 357,214-square-foot structure will be built on 45 acres of land on Hillwood property near Alliance Town Center, according to the\u00a0Dallas Business Journal<\/em>. The development is planned to break ground in the spring of 2013.<\/p>\n

The project will be managed by the General Services Administration, which plans to select a developer, which would then hire an architect and general contractor. According to the\u00a0Dallas Business Journal<\/em>, the GSA expects to award the project by this fall.<\/p>\n

In other real estate news, Hines and J P Morgan Asset Management acquired, through a joint venture, the Plaza at Legacy, a seven-story office building in Plano. The 215,499-square-foot asset is formerly known as the Computer Associates Building. According to Hines, the joint venture also acquired a 12-acre \"\"<\/a>parcel of land along Legacy Drive, which could accommodate a 300,000-square-foot build-to-suit project.<\/p>\n

Computer Associates continues to call the building at 5465 Legacy Drive home, but the company recently reconfigured its occupancy with a 10-year lease agreement that leaves it with 77,000 square feet of space and the option to expand into an additional 16,000 square feet, as reported by Commercial Property Executive<\/a><\/em>.<\/p>\n

The square footage will be reconfigured from the original single-tenant purpose to multi-tenant office use. Plans include upgrading the lobby and common areas as well as adding a deli and \u00a0fitness and conference centers. These improvements could very well exceed $2 million, the\u00a0Dallas Business Journal <\/em>quoted Hines as stating.<\/p>\n

Photo credits: www.hines.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

By Camelia Bulea, Associate Editor
\nThe Federal Aviation Administration plans a $160 million build-to-suit project in Dallas for its southwest regional headquarters.
\nOne of the largest government real estate projects in the United States this year,\u00a0the 357,214-square-foot structure will be built on […]<\/p>\n","protected":false},"author":271,"featured_media":1004505457,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21742],"tags":[],"class_list":["post-1004051547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-latest"],"acf":[],"yoast_head":"\nFAA to Build $160M HQ; Hines-JP Morgan Venture Buys Computer Associates Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/faa-to-build-160m-hq-hines-jp-morgan-venture-buys-computer-associates-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FAA to Build $160M HQ; Hines-JP Morgan Venture Buys Computer Associates Building\" \/>\n<meta property=\"og:description\" content=\"By Camelia Bulea, Associate Editor The Federal Aviation Administration plans a $160 million build-to-suit project in Dallas for its southwest regional headquarters. 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