Read the full article in The Real Deal – Real Estate News…
Dallas developer Billingsley Co. is headed for Denton with plans for a $40 million business park set to open next year.
The two-building development will be located on West University Drive, near the southwest corner of U.S. Highway 380 and Interstate 35. The property will be about 900,000 square feet with Dallas’ O’Brien Architects designing the project, according to Dallas Morning News.
The company is far from the first nationwide developer to eye the Denton area for major commercial real estate projects. Despite the country’s stalled return to the office, the greater Dallas-Fort Worth area has become the country’s fastest-growing industrial building market with more than 50 million square feet of projects under construction.
Earlier this month, Dallas developer Urban Logistics Realty announced plans for four new warehouse buildings on Denton’s I-35E. Last year, Dallas Cowboys owner Jerry Jones’ Blue Star Land purchased a large industrial development site north of I-35. Developer Exeter Property Group is building an almost 1.5 million-square-foot warehouse project west of I-35.
Billingsley has more than 8 million square feet of industrial properties in the Dallas-Fort Worth area, Houston and Chicago. The developer and investor’s Denton project is a part of an expansion of its industrial building operations which include projects in Plano, Cypress Waters and The Colony.
In Plano, the developer is working with Adolfson & Peterson Construction to build a five-story, 250,000-square-foot office building in the International Business Park. The property will be just northwest of the President George Bush Turnpike and adjacent to a 187,100-square-foot office building and a 9,000-square-foot amenity center complete with gym, tenant lounge and conference center.
Billingsley’s Cypress Waters development is currently still under construction, but is scheduled to be completed by the end of the year. The 260,000-square-foot property will have co-working spaces, a coffee bar, training rooms, a design center and will likely be the headquarters of Plano-based retailer At Home.