One of North Texas’ busiest office markets is getting a new building.
Developer Myers & Crow Co. has started work on a speculative office project on Royal Lane in Irving.
Called Royal 10 Office Center, the building will be ready by next summer, said developer Marc Myers.
“This is our 10th building in that market,” Myers said. “We think the supply demand balance is appropriate to do another speculative building.
“It’s a good, deep market,” he said. “We are looking for a single, corporate tenant.”
Designed by O’Brien Architects, the project will have almost 115,000 square feet of space.
The development is just south of LBJ Freeway and north of Dallas/Fort Worth International Airport.
“We worked to find a piece of land with a good location and reasonable price,” Myers said. “Development sites in that market are more and more difficult to find.”
The Irving/Las Colinas market has seen some of the strongest office leasing in the Dallas-Fort Worth area in the last few years.
So far in 2017, expanding and relocating businesses have been responsible for almost 800,000 square feet of net office leasing in Irving.
More than $1 billion in commercial building projects starts have been recorded in Irving so far this year. That’s 34 percent more commercial development than in 2016.
Presented by Dallas Morning News, September 5, 2017