Investment lead: Greg Nelson | greg.nelson@sentinelcapllc.com
Sentinel worked with the Allen Economic Development Corp. to bring more office space to the suburb of the Dallas/Fort Worth area, which has a low vacancy rate.
In December 2014, Sentinel Capital broke ground on this multi-building development after signing a major agreement with KONE, Inc.
In June 2016, KONE took occupancy. The KONE lease totals more than 169,000 square feet of office space that will help accommodate some of its Mexico division that plans to relocate to North Texas.
The lease also includes an elevator testing tower as well as a manufacturing warehouse.
The $26 million initial portion of the 22.5-acre office campus is on the east side of North Central Expressway between Bethany and McDermott drives.
At build-out, the AllenPlace grounds total 700,000 square feet and house multiple tenants. The addition of a deli and a conference center was completed in April 2019.
