KDC Tops Out Wells Fargo’s $455M Campus

March 13, 2024

Office Dallas Development Featured More News Southwest

Project Falcon is expected to generate more energy than it consumes.

KDC has topped out Wells Fargo’s $455 million Project Falcon, an office campus in Irving, Texas, a Dallas suburb. Scheduled to come online by the end of next year, the property will measure 850,000 square feet across two buildings.

The campus will be Wells Fargo’s first net-positive energy office development. Partners on the project include architect and design firm Corgan, landscape and civil engineer Kimley Horn and contractor Austin Commercial.

In 2022, the financial institution acquired the land from a local investment group and obtained more than $30 million in financing from Irving’s City Council. Construction on the 22-acre development started in April last year.

Built according to LEED Platinum standards, the campus will feature a dining hall, conference and wellness centers, an outdoor dining area, as well as a coffee bar and lounge. Additionally, the property will have 4,000 parking spaces, a green roof and a solar farm.

The buildings are at 401 W. Las Colinas Blvd., close to a DART light rail train station and some 2 miles from the Las Colinas Village shopping center. Downtown Dallas is 14 miles southeast, while Dallas Fort Worth International Airport is within 8 miles from the property. Project Falcon is also less than a mile from Williams Square, a four-building campus where the Big 12 Conference relocated its headquarters last month.

Dallas’ robust office pipeline

The Metroplex had 4.6 million square feet of office space under construction as of January, according to the latest CommercialEdge office report. The metro’s vacancy rate during the same time clocked in at 19.7 percent, 170 basis points higher than the national average.

Last September, Ryan Cos. topped out a 23-story office building dubbed Ryan Tower, which will measure 409,000 square feet. The high-rise is scheduled to come online by the third quarter of this year.

A few months earlier, Cawley Partners started construction on the second phase of The Parkwood office campus, a 120,000-square-foot Class A development in Plano, Texas. The first phase came online in 2022.