Dallas’ top commercial builders are preparing for a new round of office development.
KDC has built a corporate campus in North Texas for clients such as Toyota, JP Morgan Chase, State Farm Insurance and Pioneer Natural Resources. Developers are currently pivoting to do multi-tenant office projects in Uptown Dallas, Plano, Frisco and Richardson.
KDC plans for more office projects $ 800 Million Development Venture Last year with Toronto-based real estate company Cadillac Fairview and Dallas Compatriot Capital.
“If we aggregate all potential office development just for our site in North Texas, we’re talking about millions of square feet,” said Eric Hage, executive vice president of KDC. I am. “One of the great benefits of our partnership with the Cadillac Fairview Fund is that we will not only develop our company to fit the building as before, but we will also develop a multi-tenant building.”
One of KDC’s hottest projects is a 30-story skyscraper in the uptown area of Dallas.
The Parkside Uptown Tower is planned on Woodur Rogers Freeway and Harwood Street, with approximately 500,000 square feet of space.
In light of recent strong office leasing activities in the northern region of downtown Dallas, KDC has pulled the project into a front burner.
“We have sent suggestions for it, and we have good activity,” said Aarica Mims, Senior Vice President of KDC. “Parkside Uptown offers something different from its competitors.
“This is the last development site for Clyde Warren Park.”
KDC hired New York-based architect Kohn Pedersen Fox Associates to design a skyscraper in Dallas with a vast outdoor terrace and retail space on the ground floor.
“The feedback we got is that Dallas has a different architecture, which is really appealing,” said Mims, who joined KDC for office leasing. “And there is a 5.2 acre park just outside the front door.”
All modern office buildings that opened north of downtown are being rented earlier than expected at higher prices than expected.
“We didn’t miss it,” Hage said when planning the Parkside Uptown project. “We have received a lot of interest from tenants in recent months and we believe the market is starting to recover in earnest again.
“Now, companies are starting to move and make real estate decisions because they know they need to take action to put them in the best position in order to hire the best talent. . “
Also, in Uptown, KDC has residential towers, offices, and Central market grocery store.. The McKinney Avenue project has been underway for several years.
Located in Richardson, north of Dallas, KDC is touting the next stage of office construction in a big way with $ 1.5 billion in CityLine development. Since 2013, KDC has been working on over 200 acres of multipurpose projects on Bush Turnpike and Plano Road.
CityLine is the site of four office towers occupied by State Farm Insurance and Raytheon’s low-rise corporate campus. The last office building of the Richardson project opened in 2016.
KDC is promoting the construction of three more office skyscrapers on the south side of the Bush Turnpike.
“CityLine has a flexible planned office development of over 2 million square feet,” says Hage. “In addition to the tower, CityLine has additional area for the planned lower and mid-rise offices.”
According to Hage, the address of the Cityline office is backed by DART’s new rail line, which runs from Plano to DFW International Airport via Addison. The 26-mile Silver Line will open in 2024 and has major stations on the City Line.
KDC is also Hunt Realty and Karahan Cos. We are working with you to build an office on 2,500 acres of field development under construction in Frisco. The multipurpose project between Preston Road and Legacy Drive has two large office districts. One is on the Dallas North Tallway and the other is further north of the US Highway 380.
“We sell Frisco’s fields to a variety of office sites,” says Hage. “Omni resorts, PGA courses, new single-family homes and apartments give companies the opportunity to become one of the first big companies to develop.”
$ 2 billion development More than 4 million square feet of offices are planned on the toll road called Fields West.
Karahan Cos, developer of KDC and Fields West. Was a $ 3 billion Legacy West development partner at Plano. KDC recently acquired one of the last construction sites in Legacy West. We are planning a multipurpose high-rise complex there.
“We are planning an office there of about 1.5 million square feet,” Hage said. “Make that node its own destination.
“The project is planned and there is a lot of interest in the location.”
When KDC partnered with Cadillac Fairview last year, Dallas development company officials predicted it would be a new transaction of $ 2 billion to $ 3 billion.
Owned by the Ontario Teachers’ Pension Plan, Cadillac Fairview manages more than $ 36 billion in assets in the Americas and the United Kingdom. Investors acquired a 50% stake in KDC as part of last year’s transaction.
“This gives us more flexibility and more features,” says Hage.