Florida-based business to build distribution site in Plano

PLANO, Texas – This article was originally published by our content partners at the Dallas Business Journal. You can read tthat original article here.

A Florida-based commercial real estate firm appears to be starting construction on a multi-building distribution site in Plano after recently receiving approval for an economic development grant.

Orlando-based Foundry Commercial plans to begin work on two buildings at 2700 W. Plano Parkway next month and turn over both facilities in February 2026, according to planning documents filed with the state.

Construction of a 226,860-square-foot building is estimated to cost approximately $10.6 million, while work on a second 96,072-square-foot building is estimated to cost about $5.3 million, according to a filing with the Texas Department of Licensing and Regulation . TDLR records are preliminary and subject to change, but they provide an early indication of construction plans.

Dallas-based GSR Andrade Architects will serve as the design firm on the project, according to the filing.

The Plano City Council voted in June to offer Foundry Commercial Holdings LP a $750,000 incentive grant to rebuild a vacant 275,000 square foot building at the same address.

The economic development agreement calls for Foundry to demolish the existing building, which previously housed financial services firm Transamerica's Plano office, replace it with at least 300,000 square feet of manufacturing, industrial and office space, and add improvements to the property with a minimum value of 21 million dollars. until the end of 2026.

It was not immediately clear whether the building for which the company received the incentive was one of the structures referenced in TDLR's filings or a third building planned at the same address. A company spokesman did not respond to a request for comment.

Founded in 2007, Foundry Commercial focuses on Sun Belt markets and operates developments throughout several asset classes such as office, industrial and multi-family. The firm employs more than 2,900 associates and has 72 million square feet under lease and management, according to its website.

Raising Cane's Restaurants LLC also recently received an incentive package for it shift its center of support in a 400,000-square-foot space at 5320 Legacy Dr. in Plano.

The Plano City Council approved a roughly $6.2 million economic development agreement to facilitate the Raising Cane move during an Aug. 12 meeting. The fast-food chain plans to move its current employees to the new building and create about 520 new jobs, for a total of about 1,020 jobs. The company will also invest at least $20 million in building improvements to the property that was once part of the Electronic Data Systems campus.