Wells Fargo Opens Huge Las Colinas Office Campus: The DFW Deal Sheet
A major financial institution opened a $570M campus in the Las Colinas neighborhood of Irving.
Wells Fargo partnered with KDC Real Estate Development & Investments to develop the 850K SF office project that will be home to 4,500 employees.
The 22-acre campus was designed by Corgan and built by Austin Commercial.
“By bringing our Dallas-Fort Worth area employees together in this dynamic environment, we’re better positioned to support our clients and customers across Texas and the U.S.,” Wells Fargo Chairman and CEO Charlie Scharf said in a statement. “The space was thoughtfully designed to inspire collaboration, drive success, and foster a sense of connection.”
The campus incorporates technology such as solar power, smart irrigation systems and dynamic glass designed to promote energy efficiency and sustainability. Amenities include a dining pavilion, a fitness center, walking trails and direct access to public transit.
SALES
Marcus & Millichap arranged the sale of the 25K SF One Century Plaza mixed-use property in downtown Fort Worth to a local development group. Marcus & Millichap’s Joe Santelli marketed the property on behalf of the seller, a local private investment group.
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Thematic Capital Group and Dray Investments acquired a small-bay industrial portfolio of 16 buildings across three industrial parks in Grand Prairie. The buildings at 2100 S. Great Southwest Parkway, 2601 Aero Drive and 605 E. Palace Parkway total 256K SF. NAI Robert Lynn’s Jeff Jackson, alongside Northmarq’s David Annett and Joe Habighorst, represented the buyers.
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Centennial Holding Co. bought the 354-unit Midtown Cedar Hill multifamily property in Cedar Hill from Beachwold Residential. The garden-style property was built in 2015 on more than 13 acres. Institutional Property Advisors’ Joey Tumminello, Drew Kile, Michael Ware, Taylor Hill and Cameron Purse represented the seller and procured the buyer. IPA Capital Markets’ Brian Eisendrath, Cameron Chalfant and Harry Krieger arranged the acquisition financing.
CONSTRUCTION AND DEVELOPMENT
Huffines Communities broke ground on the 2,700-acre Lakesong master-planned community in the cities of Grand Prairie and Midlothian. Lakesong will offer around 5,000 single-family lots, approximately 2,000 multifamily units and roughly 40 acres for commercial development.
DRB Homes, Castlerock Communities, Chesmar Homes, Sandlin Homes and First Texas Homes are building in the first phase, with the first model homes anticipated to open before the end of 2026. Lakesong will also feature an active-adult component consisting of approximately 600 homes by Del Webb.
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BMK Pharma will build a new U.S. headquarters in the Exchange Business Park in Allen. The 50K SF facility will provide pharmaceutical manufacturing and a specialized expertise in sterile product development. It is expected to open during the third quarter of next year.
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Denton Independent School District and Pfluger Architects completed construction on the 113K SF Reeves Elementary. It opened to students in August as the third school completed as part of Denton ISD's 2024 capital improvement plan.
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Blackstone Real Estate portfolio company Tricon Residential Inc. opened two new build-to-rent communities totaling 267 homes in the Metroplex last week. Tricon Saginaw at 206 Hardwick Drive in Saginaw has 166 homes, and Tricon Garland at 5488 Sandstone Drive in Garland offers 101 homes. Both communities were developed in partnership with HHS Residential.
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Partners Capital completed a renovation of 22K SF of the Westcliff Shopping Center’s facade in Fort Worth. Partners Capital acquired the nearly 135K SF grocery-anchored shopping center in late 2023 and discovered the building’s original 1950s cast-stone facade was preserved behind a 1970s-era metal roof.
Partners Capital preserved, cleaned and refinished the cast stone and installed a modern canopy. Additional upgrades were made to storefronts and tenant signage. The project was designed by M3 Studio, and Sendero Resource Group was the general contractor.
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Lincoln Property Co. and Faropoint broke ground on the 122K SF Swisher Business Center industrial development at 250 Swisher Road in Lake Dallas. The development is expected to be delivered in May. Designed as a multitenant building, Swisher Business Center will feature 32-foot clear heights. Lincoln Property Co.’s Michael Peinado, Tom Kuhlmann and Gil Stroube will handle leasing for the property.
PEOPLE
Brennan Investment Group added Steve Wolff as senior vice president on its Texas team. He will focus on investment and asset management strategies for properties across greater Dallas. Wolff brings more than two decades of experience and was most recently vice president of acquisitions at Spirit Realty Capital.
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Colliers expanded its valuation and advisory services with a cost segregation offering that will be led by Managing Director Matt Rader. He is based in Dallas and will assist clients to find tax benefits and maximize cash flow.
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The Bonham Economic Development Corp. appointed William Myers as its new executive director. With more than two decades of industry experience, Myers will lead and oversee all economic development efforts for the city. He was previously executive director for the Gainesville EDC.
