The purchase brings Independent Financial’s corporate campus to nearly 30 acres, tripling the business’s original footprint, according to a news release.
“We fully expect to outgrow our current footprint in the next few years,” David R. Brooks, chair, president and CEO of Independent Bank Group, said in the news release. “With our acquisition activity and our fast growth rate, this additional land gives us options and preserves the property to ensure it remains available.”
Independent Financial completed its 150,000-square-foot, six-story office building in 2019 at 7777 Henneman Way, McKinney, and broke ground on its second phase of construction in January. The six-story, 198,000-square-foot building is expected to be complete next year.
“Big things continue to happen at McKinney Corporate Center Craig Ranch,” said James Craig, president of Craig International, which brokered the transaction. “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.”
There are additional development opportunities for this area. 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, according to the news release. Grand Ranch Parkway is also being extended from the roundabout at Henneman Way to Van Tuyl Parkway, creating additional access from TPC Craig Ranch and the Craig Ranch Fitness Center & Spa to the Sam Rayburn Tollway.