The Dallas-area’s top corporate campus developer is eyeing another major business project.
KDC has built huge corporate office enclaves for companies including Toyota, State Farm Insurance, Liberty Mutual Insurance and Blue Cross Blue Shield of Texas.
Now the Dallas-based commercial builder is pitching a new office center for banking giant Wells Fargo, real estate brokers who are tracking the deal say.
The San Francisco-based banking firm is looking to locate a huge office campus in Irving.
Irving’s city council last week discussed economic incentives for the pending project.
So far Wells Fargo isn’t commenting on its plans for the new Dallas-area campus. But the company did say last week that it isn’t planning to move its headquarters from San Francisco.
The proposed North Texas office project would house workers that service and support the bank’s nationwide operation, real estate brokers say.
One of the sites being considered for the project is a more than 30-acre tract in the heart of Las Colinas near the Irving Convention Center.
KDC officials declined to comment on the project.
But KDC has a track record of building offices for big banks.
The developer built JPMorgan Chase’s more than 1 million square-foot campus in Plano’s $3 billion Legacy West development.
And KDC built Frost Bank’s corporate headquarters high-rise in San Antonio.
In 2006, KDC built a 50-acre, more than 600,000-square-foot campus in Irving for Citigroup.
The proposed Wells Fargo office project – which is expected to total 400,000 square feet or more with room for thousands of employees – is one of the biggest office developments in the works in North Texas.
KDC just formed a huge venture with a Canadian investment and development firm – Cadillac Fairview – that will significantly expand its capabilities.
Cadillac Fairview acquired a 50% stake and in turn contributed to a new $800 million fund for mixed-use developments and corporate office campus projects across the U.S.