Developer Craig Hall gets $57M in debt to build tallest building in Frisco
Dallas developer Craig Hall, who has a longtime history developing real estate in North Texas, has landed more than $57 million in debt to help build the latest addition to Frisco's Hall Park.
The $57.265 million in financing will help construct a 12-story, 300,000-square-foot office tower at 3201 Dallas Parkway, which will be the 17th office building to join the 162-acre Hall Park. Show Full Story
Developer Craig Hall has landed financing to help build his latest addition to Frisco's Hall Park.
HFF secured the loan on behalf of Hall Group through a lending syndicate led by Commerce Bank.
"We plan to start our next building — No. 17 — and then we will have at least three more office sites," Hall, Chairman and CEO of Dallas-based Hall Group, told me last year.
"Our long-range plans include some potential apartments. We could build 1,000 to 1,200 apartments," he added.
The nearly 2.5 million-square-foot campus is 95 percent leased. Hall Park has lakes, trails and landscaping that includes more than 300 pieces of modern art.
Earlier this month, executives at Hall Group announced the firm has signed a lease with Newk's Eatery to anchor its new retail row at Hall Park, called Park Plaza.
Construction is underway on the new 17-story building at 3201 Dallas Parkway, which is slated for completion by Dec. 2017. At completion, it will be the tallest building in Frisco.
Hall Park sits near The Star in Frisco, which was completed by the Dallas Cowboys last fall before football season began.
Candace Carlisle covers real estate for the Dallas Business Journal.