Dallas’ Staubach Capital and Irving-based developer Realty Capital are teaming up to build an office campus in Flower Mound.
The Lakeside International Office Center will have two buildings with almost 130,000 square feet of space on Lakeside Parkway near International Parkway.
The largest of the projects will be a four-story, 120,000-square-foot office building. Health care technology service provider IntelliCentrics is taking 30,000 square feet of space to kick off that first building at 777 International Parkway.
“Flower Mound has established itself as an attractive area for new residents and businesses, with a growing number of shops, restaurants, entertainment and residential options in the Lakeside mixed-use community,” Jeff Staubach, founding partner of Staubach Capital, said in a statement. “Lakeside International Office Center will be the first of its kind in this part of the Metroplex, providing a premium office experience with top-of-class amenities.”
JLL’s Cannon Camp and Chris Doggett are leasing the new building.
Staubach Capital provided the equity funding for the development, and First United Bank is the construction lender.
JLL’s Doug Carignan represented the tenant in the lease negotiation.
IntelliCentrics is already located in Flower Mound in a smaller building off Lakeside Parkway. The move to the new building will allow the company to expand its office footprint.
“I am extremely excited for IntelliCentrics’ worldwide headquarters to locate in the Lakeside development in Flower Mound, and as a 22-year resident of Flower Mound, I feel the vision is perfect for sustained growth benefiting both residents and commercial tenants,” Mike Sheehan, CEO of IntelliCentrics, said in a statement. The Town of Flower Mound provided developer Realty Capital financial incentives to construct the office park.
“Without the incentive agreement, we wouldn’t have been able to obtain the financing to build the project on a speculative nature,” Jimmy Archie, managing director for Realty Capital, said. “Once we were able to obtain the financing and announce the project to the market, our first tenant showed up to lease a portion of the project prior to us breaking ground.”
Designed by Dallas architect BOKA Powell, the building is set to open in third quarter 2020.
The new office campus will be linked with pedestrian trails to the nearby Shops at Lakeside restaurant and retail district.
Founded in 2018 by Staubach and partners – including his father Roger Staubach. Staubach Capital is a real estate investment and development firm.
Realty Capital has been in business since 1987 and has done single-family, retail, professional office, medical and master-planned community projects.
Published July 17, 2019 by the Dallas News