DALLAS – (Realty News Report) – Ryan Cos. has broken ground on Ryan Tower. Located in Plano’s Legacy West, the 23-story multi-tenant Class AA office tower totaling 409,000 SF will be the world headquarters for Ryan LLC, a global tax services firm.
Situated on a 3.6-acre site the building is located at the intersection of State Highway 121 and Windrose Drive, in Plano’s Legacy West development.
“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,” said Brint Ryan, chairman and CEO of Ryan LLC. “We’ll be at the center of where our team members live, complementing our hybrid work environment and providing them with the best opportunity possible for work-life success.”
29,000 SF Floor Plate
The Class AA tower includes efficient 29,000 SF floors and will offer 10-foot, floor-to-ceiling windows and a virtually column-free workplace.
Gensler is the architect for the project. Designers worked closely with the development team to create a building that maximizes its potential as a beacon on the northern boundary of Legacy West, expressing verticality, clean lines and masterful detailing.
“Ryan Tower exudes the confidence and relaxed elegance of its anchor tenant,” said Gensler Principal Scott Armstrong. “We think it will be seen as an example of how to come together to work, connect, celebrate, and promote the workplace of the future.”
Fitwel Certification Pursued
Construction is expected to be completed in the third quarter of 2024. The tower will feature a variety of amenities including an onsite fitness center, multiple conference rooms, a tenant lounge and a café. Outdoor amenities include structured parking, an abundance of manicured green space and bike storage.
Ryan Companies is pursuing Fitwel certification which includes additional amenities to maximize the health and wellness of the customers in the building.
Koch Industries Unit Provides Equity
Construction financing of $125 million for the project is being provided by ACORE Capital, reports Commercial Property Executive. Joint venture equity capital is being provided by Koch Real Estate Investments the real estate investment vehicle for Wichita-based Koch Industries.
The lead tenant, the Ryan LLC tax firm, is not affiliated with the tower’s developer, Ryan Cos.
D-FW has 9.8 Million SF of New Office in the Construction Pipeline
Ryan LLC is leasing 50 percent of the building. JLL has been selected to market and lease the project and is actively seeking tenants to lease the remaining 200,000 SF on floors 12 through 19. Ahnie Sheehy and John Brownlee of JLL represent the property.
“As of mid-June, the Dallas-Fort Worth metro’s development pipeline included 52 projects totaling more than 9.8 million SF of office space, CommercialEdge shows,” the Commercial Property Executive said.
Granite Properties just started construction on a 26-story, 626,215-SF development in Uptown Dallas. Granite has signed a lease with Bank OZK, which will occupy four floors of the buildings and provide construction financing for the project, which is called 23Springs
June 29, 2022 Realty News Report Copyright 2022
Rendering Image: Courtesy Ryan. Archit4ect: Gensler
File: Office Tower Starts Construction. Plano
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