McKinney-based banking firm Independent Financial plans to triple the size of its campus in the Craig Ranch development, purchasing 17 additional acres of space for an undisclosed amount.
The expansion will bring its campus to 30 acres in total, and allow for the development of two to three more office buildings, according to Independent Financial.
“We fully expect to outgrow our current footprint in the next few years,” Independent Bank Group president and CEO David R. Brooks said in a statement. “With our acquisition activity and our fast growth rate, this additional land gives us options and preserves the property to ensure it remains available.”
Brooks described the campus located just north of State Highway 121 as “the new center of the Metroplex” because of its proximity to the Dallas North Tollway and Legacy West business districts.
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In 2017, the bank announced that its headquarters would eventually include more than 1,000 workers. The following year, Independent Financial broke ground on its first 150,000-square-foot, six-story office building as part of its expansion. In January, it started phase two of expansion – which will include a six-story, 198,000-square-foot building. That building is expected to be completed in 2022.
The company had 1,513 employees at the end of 2020.
Independent Financial did not provide a timeline for when it expects to develop the additional 17 acres.
Roughly one-third of the original 163 acres of space at the McKinney Corporate Center Craig Ranch is still available for purchase, according to Craig International president James Craig, who negotiated the Independent Financial transaction for McKinney Joint Venture.
Independent Bank Group operates in four markets including Dallas-Fort Worth, Austin, Houston and parts of Colorado. It posted strong financials in 2020, with assets increasing $2.8 billion, deposits rising 17.2% and net income topping $200 million for the first time.
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McKinney's Independent Financial to triple size of its original Craig Ranch campus with 17-acre purchase - The Dallas Morning News
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