Formation has closed on the purchase of 118 acres in McKinney, TX, for a future 715,000-square-foot corporate campus to be named The Gateway at Formation Park (“The Gateway”). Located at the intersection of Laud Howell Pkwy and Hwy 75, The Gateway will consist of six buildings. The Dallas Business Journal reports the company expects to begin construction on the $130 million development this summer.
The first phase will include three buildings totaling 450,000 square feet. It could open next summer. The full development schedule calls for the two phases to be completed within about 36 months.
The move to a finally developed site took some doing. The investment included annexation (into the city of McKinney), rezoning, numerous off-site utility easements, flood mitigation, and more.
Formation’s Kyle Heath found the site. Josh Barnes and Blake Troiani with Holt Lunsford Commercial have been hired to lease The Gateway.
Formation is a real estate investment and development firm active in both Texas and Arizona,.
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