#United States #Plano #Provident Industrial #Plano Commerce Center #Sysgration America

Provident Industrial's Successful Sale in Plano

Provident Industrial, a branch of the Dallas-based real estate development firm Provident, recently announced the successful sale of Buildings A and B within the Plano Commerce Center, marking a significant milestone in their operations. Situated at 3700-3712 E. Plano Parkway in Texas, this commerce center was developed in 2021 and lies in the bustling Research Technology Crossroads District—an area known for attracting a variety of innovative companies and projects in one of North Dallas's fastest-growing suburbs.

Overview of the Plano Commerce Center

The Plano Commerce Center's second phase features three buildings, summing up to a total of 300,000 square feet. Prior to this sale, Building C was sold in June 2024 to Sysgration America Corporation, a publicly traded manufacturing firm based in Taiwan. The completion of this recent sale demonstrates the ongoing demand for commercial real estate in the area.

Tenants of the Sold Buildings

Building A currently houses two significant tenants: the Acre Operating Group, which specializes in both digital and physical security solutions, and the U.S. headquarters of Ulrich Medical, a company focusing on medical device innovations, including spinal implant systems and surgical instruments.

Meanwhile, Building B is fully leased, consisting of noteworthy organizations such as Cheer Athletics, known as the world's largest All Star Cheer organization, and Senderra RX Partners, which operates as a specialty pharmacy catering to a diverse range of patient care needs.

Development and Partnership

The development of Phase II of Plano Commerce Center was spearheaded by Provident's Managing Director, Case Van Lare, along with Director Chris Martin. This phase was created in collaboration with partners such as Southside Bank and Grandview Partners. The success of this project is a testament to Provident's strategic approach to land acquisition and development in prime locations.

In line with its growth strategy, Provident Industrial has expanded its industrial portfolio massively, with 8.2 million square feet currently either under construction or in pre-development phases across Texas, Arizona, and the Carolinas. This expansion aligns with market trends where companies are converging towards suburban hubs that promise a modern working environment and robust amenities.

Provident's Commitment to Real Estate Development

Founded in 1991, Provident is grounded in a history of over three decades of observing market fluctuations and utilizing its foresight to navigate various economic cycles successfully. The company emphasizes a focus on providing exceptional risk-adjusted returns for its investors by deploying opportunistic development strategies and value-added initiatives.

Throughout its history, Provident has developed or invested in real estate projects worth over $5.9 billion nationwide. Their adaptability and acute market insight continue to propel them towards new heights in commercial real estate development. For further insights about their projects and strategies, you can visit Provident Realty Advisors.

Conclusion

The sale of Buildings A and B at the Plano Commerce Center showcases both a successful completion of a critical phase in Provident’s development and the vibrant economic growth happening in Plano, Texas. As businesses continue to seek innovative environments, developments like Plano Commerce Center will remain integral to this positive trend.