MetLife Buys Second Building at $1.8B Dallas Project

The Offices Two at Frisco Station

MetLife Real Estate Investment has purchased The Offices Two at Frisco Station, a 210,424-square-foot office building in metro Dallas, CommercialEdge data shows. The seller, VanTrust Real Estate, is the developer behind the 242-acre, $1.8 billion mixed-use project named Frisco Station.

Completed in early 2020 after a 2019 topping out, the Class A building located at 6303 Cowboys Way is the second piece of the large-scale development in Frisco, Texas. In 2019, Metlife purchased the neighboring 230,000-square-foot Offices One, with the developer granting the buyer a purchase option for Office Two, according to the Dallas Business Journal.

At the time of the sale, Offices Two was 95 percent occupied by mostly publicly traded companies, with a number of Fortune 1000 firms on the tenant roster. In March, financial services firm Raymond James signed a 7,000-square-foot commitment at the site. Amenities include covered access to a structured parking, tenant lounge, fully equipped fitness center, conference center, as well as 5G infrastructure.

Newmark represented the seller. The brokerage team included Vice Chairmen Gary Carr, Robert Hill, Chris Murphy and John Alvarado and Director Chase Tagen.

Hot location

Situated 25 miles north of downtown Dallas, the development is close to Dallas North and Sam Rayburn tollways, the Dallas Cowboys headquarters, while Dallas/Fort Worth International Airport is 20 miles southwest. The Offices Two is within walking distance of five hotels and more than 30 restaurants.

VanTrust wrapped up construction on Offices Three at Frisco Station back in April. The 210,000-square-foot, six-story building with similar amenities as its predecessors broke ground in January 2020 and is one of the largest office projects in the Metroplex to come online this year.

Frisco, a hub for corporate lifestyle centers, was named the fastest-growing city in the U.S., with a growth rate of 71.1 percent over the last decade, according to the U.S. Census Bureau. North Dallas is one of Texas’ fastest-growing employment clusters, with submarkets in the area sporting some of the country’s largest construction pipelines across asset classes.