Tuesday, June 25, 2024 Jun 25, 2024
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Goldman Sachs Breaks Ground on Dallas Campus

Plus, CBRE generates 10 offers while arranging the sale of the Expo Center in Rowlett; 5500 Preston Road receives office revamps; and more

Goldman Sachs broke ground on its Dallas Campus at NorthEnd, located at 2323 North Field Street. The 800,000-square-foot building will be composed of two wings, with the tallest being 14 floors. The campus will sit on three acres next to a 1.5-acre urban park. Amenities include social and conferencing spaces, an on-site cafe, a fitness center, childcare, underground parking, and more. The project is designed by Henning Larsen Architects in New York and the developer is Hillwood Urban. The building is owned by Dallas-based Hunt Realty.

Goldman Sachs has been operating in the city since 1968, and the area is currently the firm’s second-largest office in the United States. The company currently employs roughly 4,000 people in Dallas-Fort Worth, and the new building will give Goldman Sachs the capacity to add roughly 1,000 more jobs. Building construction is expected to be completed in late 2027.

CBRE Arranges Sale of Expo Center in Rowlett

Expo Center in Rowlett

CBRE has arranged the sale of the 28,119-square-foot shopping center, Expo Center, located at 3801 Lakeview Parkway in Rowlett. The property sits on 3.35 acres, and is 100 percent leased to nine retail tenants, including Fresenius Medical Care, Golden Pot Chinese, and Opa! Greek Taverna. Jared Aubrey and Michael Austry represented the seller in the marketing and sale of the property, which generated 10 offers from across the U.S. A local Dallas private investment group purchased the property from Standridge Companies. 

Offices at 5500 Preston Road Get a Revamp

5500 Preston Road is undergoing a multimillion-dollar renovation at their fully leased 77,437-square-foot office building. Exterior and site improvements include interior renovations to the lobby, elevator interiors, restrooms, atrium, and common corridors, which are set for completion in January 2024. Built in 1987, the boutique building has been owned by an L&B advisory client since 1989. The building has been 100 percent leased for more than 11 years, catering largely to wealth management, family office, and banking tenants. Younger Partners Managing Principal Sean Dalton leads the leasing efforts for the three-story building. Gensler leads interior and exterior design renovations alongside Garrison Jones Landscape Design. 

5500 Preston Road has received office updates.

Wood Partners Opens Alta at the Farm in Allen

National multifamily real estate developer Wood Partners announced the opening of its newest luxury residential community in Allen, Alta at The Farm. The project houses 325 apartment homes, ranging from studio to two-bedroom floorplan layouts. Apartment amenities include keyless entry systems, granite countertops, stainless steel appliances, in-home washer and dryer sets, and more.

The residential building is a part of the larger development at The Farm, a  a 135-acre mixed-use development that will house a 16-acre greenbelt and open spaces that stretch the entire length of the development, a 2.5-acre lake, several dining options, multiple pocket parks, and a 2.5-mile network of multi-use trails connecting to the broader Allen trail system. It will also include FarmWorks One, a 102,000-sqaure-foot Class A office building, also under construction two blocks away.

Provident Realty Advisors and Trez Capital Launch RV Parks

Provident Realty Advisors and the Dallas office of Trez Capital have acquired two Texas development sites in Burleson and San Antonio, near Lake Calaveras, where Provident will house its new luxury RV resort platform, Roaming Trails RV Retreat. The new site in Burleson is 15 minutes south of downtown Fort Worth and will have 196 pads on 22 acres, and RTRV Lake Calaveras will have 215 pads on 42 acres off US Highway 181. Community amenities include gated concrete streets, privacy fenced yards, resort pools, dog parks, and more. RTRV is Trez Capital’s first venture into RV park financing as an asset class and the sixth and seventh project they have financed with Provident Realty Advisors. Construction on both parks is estimated to begin in Q4 of 2023.


Mianda Mulumba

Mianda Mulumba

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