Admiral Legacy Investments and Foundry Commercial Break Ground on 152,894-SF Class-A Office Building in Mansfield, Texas
Admiral Legacy Investments and Foundry Commercial have commenced construction on Phase 1A of the Mansfield Innovation Community (The MIC), a five-story, 152,894-square-foot Class-A office building that will serve as the anchor of a planned 18-acre mixed-use innovation campus in Mansfield, Texas, the development team announced Aug. 17, 2026.
The building is situated on approximately five acres at the northwest corner of Heritage Parkway and Regency Parkway within Mansfield's Innovation Corridor — a roughly 1.5-mile stretch of Heritage Parkway between US 287 and SH 360 in southern Dallas-Fort Worth. The land is controlled by the Mansfield Economic Development Corporation (MEDC) and has been allocated to the project under a development agreement with Admiral Legacy Investments.
Project Scope and Phasing
Phase 1A is the first of three planned phases for The MIC, which at full build-out is expected to include approximately 240,000 square feet of Class-A office space, up to 300 residential units, roughly 20,000 square feet of complementary retail, and parks and green spaces. A second office building of approximately 90,000 square feet is anticipated in later phases.
The Phase 1A building will feature traditional office space alongside flexible coworking environments and business incubation space. The project is designed to serve technology companies, healthcare innovation firms, entrepreneurs, and other innovation-focused organizations, with biotech, life-science, and medical device tenants identified as target users.
The MIC is being developed within The LinQ Innovation District and is envisioned as a cornerstone of Mansfield's broader innovation district strategy and a catalyst for economic growth throughout southern DFW.
Public-Private Partnership and Incentive Structure
The project is underpinned by a structured public-private partnership between Admiral Legacy Investments, Foundry Commercial, the City of Mansfield, and the MEDC. The City of Mansfield and MEDC have supported Phase 1A through a strategic incentive package designed to encourage investment, job creation, and long-term economic development within the innovation district.
In May 2025, the MEDC board authorized a 10-year lease agreement with Admiral Legacy Investments for the anchor building, under which MEDC agreed to master-lease approximately 50% of the building — roughly 75,000 square feet — providing a rent-gap backstop for up to 10 years. Total cash grants associated with the project were put at $7.5 million, to be paid out by 2028. The MEDC's land contribution, master-lease commitment, and grant package collectively reduce lease-up risk in what city and MEDC materials describe as a nascent suburban office market.
Development Team and Quotes
The project team includes BOKA Powell as architect, Wier & Associates, Inc. as civil engineer, Moss as general contractor, Stream Capital Partners Capital Partners as leasing representative, and Foundry Commercial as property manager.
"The MIC represents the type of visionary collaboration that creates lasting value for an entire community," said Ese Aihie, President of Admiral Legacy Investments. "Our goal is to create more than a workplace. We are building an ecosystem where entrepreneurs, established companies, innovators, and residents can connect, collaborate, and grow together. Through this partnership, we have an opportunity to create a destination that helps shape Mansfield's future and reinforces its position as one of North Texas' most exciting growth markets."
Andrew Sineni, Senior Vice President of User Development Services at Foundry Commercial, noted the relative scarcity of ground-up office development at this scale. "Ground-up office developments of this scale have become increasingly rare in today's market, which makes The MIC especially exciting," Sineni said. "We're seeing growing demand from companies that want more than just office space; they want an environment that helps attract talent, foster collaboration and support long-term growth. The MIC is designed to deliver exactly that while creating a destination that will serve as a catalyst for innovation and economic development throughout Mansfield."
Market Context and Outlook
Ground-up suburban office construction has remained limited across most U.S. markets in recent years as lenders and investors have maintained caution toward the asset class. The MIC's structure — combining a public land contribution, a master-lease backstop covering half the building's square footage, and $7.5 million in cash grants — positions the project as a de-risked development relative to purely speculative office builds.
City and MEDC materials frame The MIC as an effort to establish a Class-A office market in Mansfield where one does not yet exist at scale, with the Innovation Corridor intended to attract employers and investment to a submarket that has seen rapid residential growth. When complete, The MIC is designed to create a live-work-play-and-learn environment integrating office, residential, retail, and green space within the broader LinQ Innovation District.
Foundry Commercial is a full-service commercial real estate services and investment company operating across Sun Belt markets, with more than 5,000 associates in 12 markets providing leasing and management on more than 77 million square feet. Admiral Legacy Investments is a Texas-based real estate development and investment firm specializing in public-private partnerships, mixed-use developments, and economic development initiatives.
Sources
Foundry Commercial — Development Team Advances Signature Mansfield Mixed-Use Project (Aug. 17, 2026)