A Minneapolis developer is teaming up with the owners of the $700 million Gate development in Frisco to build a new office campus.
Ryan Cos. and Gate owner Dubai-based Invest Group Overseas plan to develop three office buildings in the mixed-use project with more than 900,000 square feet of space.
Called Auspire, the new business campus will be built on the Dallas North Tollway just south of Lebanon Road.
"We feel this is a tremendous opportunity to fill a need for a corporate tenant seeking a high-quality building or campus environment with incredible visibility and access in a highly sought-after market," Paul Rowsey vice president of development for Ryan Cos. said in a statement. "Auspire, is at the heart of where corporate America in Dallas has and continues to locate and is surrounded by a quality workforce, schools that are rated exemplary, amenities and homes that serve the corporate tenant well.
"Corporate office development is a major component of Ryan Cos. business plan for Dallas," Rowsey said. "We will pursue both build-to-suit and speculative office projects in our core submarkets."
Architect Gensler is designing the Auspire office project to include three-high-rise buildings. The offices will surround an urban park.
"With its strong tollway presence, indoor-outdoor amenities, and connectivity within the development, Auspire will be a market differentiator," Zach Edwards, Gensler Principal, said.
Part of Frisco's so called $5 billion mile, the 40-acre Gate development already includes two apartment communities developed by Embry of San Antonio and Irving-based JPI. There are also plans for a high-rise residential building.
The Gate project is next door to the larger Frisco Station development and the Dallas Cowboys Star mixed-use development.
The Gate is planned for almost a dozen building projects, including offices, hotels, residential buildings and retail.
"We believe we have pulled together the right developers, contractors and architects in Ryan Cos and Gensler," Anas A. Kozbari, managing partner of owner Investment Group Overseas said in a statement. "This team will no doubt deliver one of the premier business addresses in North Texas."
Ryan Cos. an 80-year-old real estate company with 16 offices and projects in 38 states. The company builds office, industrial, healthcare, mixed-use, hospitality, residential developments.
The company has built office projects in Austin and San Antonio.
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