With all office space spoken for within The Star, Dallas Cowboys owner Jerry Jones is moving forward with a speculative building at his 91-acre, $1.5 billion, mixed-use development in Frisco.
The new $65 million project includes an 11-story, 325,000-square-foot tower and accompanying 1,200-car parking garage. Designed by HKS Inc., it will sit at the northwest corner of the Dallas North Tollway and Cowboys Way, north of Warren Parkway.
Lincoln Property Co. is overseeing leasing of the new office building. “Office space at The Star is 100 percent leased and has been for some time, but we still get calls every week for space,” said Worthey Wiles, senior vice president at LPC. “Just this week we had 5,000-square-foot and 20,000-square-foot tenants looking for space at The Star. It will be great to have a new state-of-the-art office building ready for occupancy because the demand is there.”
Construction also is underway at The Star on a new 350,000-square-foot build-to-suit for Keurig Dr Pepper. It’s set for delivery next summer.
Although retail has suffered as a result of the pandemic, the North Texas office sector has held up “relatively well,” Wiles said. “We have only seen a few office tenants ask for some relief across all submarkets,” he said.
Phase IV, The Star
Cowboys Way, Frisco
Delivering: Late 2021
The Star is among the most successful mixed-use developments not only locally but across the country. Anchored by the Dallas Cowboys’ world headquarters, it includes Ford Stadium, luxury multifamily tower Twelve Cowboys Way, Baylor Scott and White Sports Therapy & Research Center, an Omni Hotel, and more than 200,000 square feet of restaurant and retail space.
Looking ahead, Frisco should continue to fare well, Wiles said. “The submarket has been one of the best and most active submarkets over the past few years, and will continue to be as East Coast and West Coast companies continue to move to the region.”
Anatomy of a Deal
Here are four other notable projects underway:
Ben Swanger contributed to this story.
A version of this story first published in the Summer 2020 edition of the Dallas-Fort Worth Real Estate Review.
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