A 24-story 400K SF office tower set to break ground at Plano’s $3B Legacy West development in early 2022 will start out at least 50% leased.
The developer of the Class-A building announced Tuesday the property will serve as the new corporate headquarters for tax services and software provider Ryan LLC, currently located in the nearby Galleria Office Towers. Ryan acquired about 6 acres in the development near the southwest corner of the Dallas North Tollway and Windrose Drive in 2017 and vowed to bring 550 jobs to the site two years later in exchange for $467.5K in economic incentives, according to the Dallas Morning News.
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Now the developer behind the $338M project, Ryan Cos., which is not affiliated with Ryan LLC, is offering details and a timeline for Legacy West’s latest addition. The new tower is set to begin construction in the first quarter of 2022 and will feature an on-site fitness center, conference rooms, a tenant lounge and café, and outdoor amenities including manicured green space, structured parking and bike storage.
The building is close to 30 retailers, 20 restaurants and corporate tenants such as JP Morgan, Toyota, Liberty Mutual and Reata Pharmaceutical. Ryan LLC officials said Legacy West’s location near clients and employees in fast-growing Plano and Frisco and the quality of the new building played a major role in its decision to move locations.
“Our selection of Legacy West as the site for our new headquarters is a purposeful part of our team member-centric strategy to be the best workplace in tax globally,” Ryan LLC Chairman and CEO Brint Ryan said in a release. “We’ll be at the center of where our team members live, complementing our myRyan hybrid work environment and providing them with the best opportunity possible for work-life success.”
The announcement comes a few months after completion of the 540K SF Chase Tower at Legacy West, the tallest building within the development. It is being developed by Minneapolis-based Ryan Cos. and was designed by Gensler.
“We create places for people to thrive. It’s about the value it brings to the people who use the spaces,” Ryan Cos. Vice President of Real Estate Development Paul Rowsey said. “Legacy West is already a booming retail and dining destination for the city of Plano and surrounding area. A Class-AA office building will complement the existing amenities and offer future tenants an elevated experience.”
JLL will market and lease the building’s remaining 200K SF on floors 12 through 19. The tower is slated for completion in the first quarter of 2024.
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