$150-Mil, 750,000-SF Chase International Plaza Expansion Breaking Ground in Two Weeks

DALLAS-Wilcox Development Services, based here, will break ground in two weeks on an estimated $150-million, 750,000-sf expansion of its 13-acre Chase International Plaza, situated in the Far North Dallas submarket along the North Dallas Parkway in Farmers Branch.

“This is the largest project developed speculatively in Dallas since the mid-1980s,” Steve Platt, Wilcox president, tells GlobeSt.com. It also represents the largest undertaking for the development group in its five-year history. “We’re not necessarily trying to do larger and larger projects, it’s just that this tract of land lent itself to that kind of development,” explains Platt.

The property is owned by BCK & Partners LP, a German investment group that bought the site in 1992, subsequently entering into a joint venture with Wilcox for its development. The project is being developed for the State Teachers Retirement System of Ohio. Bank of America is providing the financing for the two buildings–one with 15-stories and 400,000 sf, the other with 13-stories and 350,000 sf–that are being designed by HKS Architects of Dallas. The structures will closely resemble the existing 350,000-sf Chase International Plaza I, which has been fully leased by the Global Services Group of Chase Manhattan Bank since its completion in 1999.