Transwestern Real Estate Services and Kobalt Investment Co. have been selected by Wilks Development to oversee the leasing for Firefly Park—a planned 217-acre mixed-use development in Frisco that includes 159 acres owned by Wilks and 59 acres owned by the Frisco Economic Development Corp.

“A transformative project like Firefly Park demands the best, and we’ve found that in Transwestern and Kobalt,” Wilks Development CEO Kyle Wilks said in a statement. “From the outset, they embraced our vision and shared our commitment to bringing something extraordinary to the city of Frisco.”

Horizontal construction has already started for Phase One of Firefly Park, Benbrook-based Wilks Development said. The development is located at the intersection of US 380 and Dallas North Tollway along PGA Parkway. That positions the development to take advantage of the “PGA halo effect,” as Dallas Innovates noted in April.

‘Inspired’ project includes offices, residential, retail, dining, and parks

Rendering of Firefly Park’s “town square.” [Image: Wilks Development/Boka Powell]

The company said that Phase One will introduce 460,000 square feet of premier commercial space, including 120,000 square feet of upscale retail and dining, managed by Dallas-based Kobalt Investment Co., and 150,000 square feet of Class A office space, managed by Fort Worth-based Transwestern.

“We couldn’t be more excited to partner with Wilks Development on the office leasing at Firefly Park,” Paul Wittorf, executive managing director for Transwestern said in a statement. “Wilks has assembled a world class team to develop a true destination in an amenity rich environment with proximity to a highly talented labor force. Firefly will be one of the most compelling office experiences in the country.”

‘A unique opportunity’

Office-hotel lake-view rendering at Firefly Park [Image: Wilks Development/Boka Powell]

Kobalt President Andy Crosland said that Firefly Park offers a unique opportunity.

“We’re thrilled to partner with Wilks Development on the inspired Firefly Park project,” Crosland said in a statement. “This development represents a unique opportunity to create a vibrant retail and dining destination that will serve as a cornerstone for the Frisco and Prosper communities. Our team is committed to curating an exceptional mix of tenants that will bring Firefly Park’s vision to life, offering residents and visitors alike an unparalleled experience.”

Rendering of office/hotel building at Firefly Park [Image: Wilks Development/Boka Powell]

Wilks Development said that when completed, Firefly Park will have 3 million square feet of Class A office space, 400,000 square feet of upscale retail, dining, and entertainment, 1,200 hotel rooms, 230 townhomes, 1,970 mid-rise and high-rise residential units, and numerous world-class amenities.

45-acre ‘signature park’

Rendering of Egg View Plaza at Firefly Park [Image: Wilks Development/Boka Powell]

Central to the development will be a 45-acre signature park with a series of lakes, an immersive outdoor art walk, miles of hiking and biking trails, scenic fountains, and family-friendly playgrounds.

The park also will feature an event lawn, amphitheater, and a unique wedding chapel, offering year-round programming and activation.

Rendering of park tributary at Firefly Park [Image: Wilks Development/Boka Powell]

More on the partnering companies

Wilks Development says it’s committed to creating “exceptional spaces that enrich the lives of communities.” Founded in 2012 by brothers and third-generation masons Kyle and Josh Wilks, along with their cousin Jess Green, Wilks Development has built a diverse portfolio that includes “sturdy stone storefronts, vibrant multifamily communities, commercial offices, and thriving, walkable neighborhoods.”

Part of the Transwestern companies, Transwestern Real Estate Services said it seeks to add value for investors, owners, and occupiers across all commercial property types. Four integrated companies make up the Transwestern enterprise, giving it the perspective to think broadly, deeply, and creatively about commercial real estate, the company said. 

Kobalt Investment Co. leverages more than two decades of commercial real estate expertise, the company said. Its leasing team specializes in strategic tenant mix optimization and market-rate leasing, focusing on maximizing property value and enhancing community appeal.

More looks at Firefly Park

Rendering of playground at Firefly Park [Image: Wilks Development/Boka Powell]

Rendering of office-hotel pool terrace at Firefly Park [Image: Wilks Development/Boka Powell]

Rendering of retail buildings at Firefly Park [Image: Wilks Development/Boka Powell]

Rendering of office-hotel lake view at Firefly Park [Image: Wilks Development/Boka Powell]

Rendering of park enscape east elevation at Firefly Park [Image: Wilks Development/Boka Powell]

Rendering of picnic grove at Firefly Park [Image: Wilks Development/Boka Powell]

Firefly Park mid-high-rise rendering [Image: Wilks Development/Boka Powell]

Rendering of retail building at Firefly Park [Image: Wilks Development/Boka Powell]

Aeral rendering of Firefly Park [Image: Wilks Development/Boka Powell]

Rendering of water feature at Firefly Park [Image: Wilks Development/Boka Powell]

Rendering of retail at Firefly Park [Image: Wilks Development/Boka Powell]

Firefly Park mid-high-rise rendering [Image: Wilks Development/Boka Powell]

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