Commercial real estate firm Ryan Cos. is shifting into a bigger space at its North Dallas home.
The company confirmed it will be moving to the ninth floor of International Plaza III, a 354K SF office building at 14241 Dallas Parkway. The new 10K SF space will be more than double the size of its existing office on the second floor.
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“Consistent with Ryan Companies’ strategic initiative to grow our presence in Texas, we are relocating and expanding our Dallas office,” South Central Region President Jeff Thornton said in an email. “We are doubling our office space to accommodate the growth Ryan has had in the last five years and the projected growth in Texas, specifically the DFW market.”
Construction on the $1.2M interior build-out will begin in June and last five months, according to a filing with the Texas Department of Licensing and Regulation.
Ryan Cos. is building Ryan Tower, a 400K SF Class-A office building in Plano’s $3B Legacy West development. Ryan LLC, a Dallas-based tax services and software provider with no relation to the developer, will establish its new headquarters in the building.
The Ryan Cos. expansion is somewhat against the grain of where the broader office market is trending. Many companies with large office footprints are looking to downsize amid the lasting hybrid work trend.
Tenants in the DFW market are looking for 30% less space than they were 10 years ago, according to CBRE data provided to Bisnow.
