F
oundry Commercial is moving forward with a major redevelopment project in West Plano, transforming a 40-year-old office building into two industrial facilities. The Orlando-based developer has secured $750,000 in public funding to support the project, which will replace the existing structure at 2700 West Plano Parkway with two buildings spanning 333,000 square feet. Construction is underway, with demolition led by Georgia-based Conlan Company.

    The redevelopment, dubbed Plano Midpoint, is expected to be completed by early 2026 and designed by Dallas-based GSR Andrade Architects. The estimated construction costs are $10.6 million for the first building (227,000 square feet at $47 per square foot) and $5.3 million for the second (96,000 square feet at $55 per square foot).

    Foundry acquired the site and adjacent 22 acres earlier this month, with Plano City Council approving the incentives in summer to assist with demolition. The move comes as demand for industrial space in North Texas surges, particularly as aging office properties become less desirable. Foundry is also working on a similar redevelopment in Irving, where an office building will be replaced by warehouse space.

    The region's light industrial space remains in high demand, with 9.8% vacancy in the third quarter, while office vacancies have risen to 26.7%. Founded in 2007, Foundry manages over 72 million square feet across the Sun Belt, spanning multiple asset classes including industrial, office, and multifamily properties.