Backed by steady job growth in Frisco, VanTrust Real Estate is developing a new Class A speculative, office building at Frisco Station.
The real estate development company is breaking ground on The Offices Three this week at the southeast corner of Cowboys Way and Hickman Road in Frisco.
The six-story office tower will span 210,000 square-foot, according to a press release. The new building marks the third office building for the office district at Frisco Station, a 242-acre mixed-use project currently under construction.
“With the job growth and office demand in North Texas, the projections for leasing are excellent,” Bill Baumgardner, executive vice president for VanTrust in Dallas, said in the press release.
From November 2018 to November 2019, the DFW area added more than 120,000 jobs, topping any U.S. metro area for employment growth.
The Offices One in Frisco Station opened in December 2017 and is currently 98% leased. The Offices Two, whose shell building construction is almost complete, is already 35% leased, with Keurig Dr Pepper as its largest tenant.
The Offices Three will add to the planned 5 million square feet of office space at Frisco Station. Frisco Station estimates about 15,000 daytime employees will work in various offices at the project.
The Hub at Frisco Station, a separately planned entertainment district, will offer more than 50 retail, restaurant and entertainment options at Frisco Station. Station House, the first multi-family component to launch at the development, has 300 luxury, urban-living units, which are 95% leased.
Frisco Station is situated adjacent to The Star, Dallas Cowboys’ world headquarters. The mixed-use development is also home to one of the world’s first skyports to support flying taxis, and last year completed a pilot project to test autonomous vehicles within the development.
“Wellness and technology amenities in new, collaborative office spaces are key to companies’ talent acquisition and retention strategies, and this site will offer a premier environment for a healthy, smart and engaging work experience,” Baumgardner said.
The Offices Three will offer structured parking, a fitness center, conference center and tenant lounge for its tenents.
The building, which has been designed with future-proofing in mind, will have robust communications and power infrastructure that includes multiple fiber optic option providers.
The new office building is scheduled to complete in 2021.