Nokia Signs 350 KSF Lease at Dallas Mixed-Use Community

By IvyLee Rosario

Rendering of 3201 Olympus Blvd.

Billingsley Co. has inked a new lease with Nokia to occupy a total of 350,000 square feet among two buildings in The Sound at Cypress Waters, a lakefront, mixed-use property. The campus features office, residential, retail space and restaurants on the edge of the 362-acre North Lake in Dallas.

Nokia will consolidate its Dallas-Fort Worth Metroplex operations and move its North American headquarters to the new location. The company is set to occupy 100,000 square feet at 3100 Olympus Blvd.—a multi-tenant building that is also leased by Delta Cos. and TAMKO—and 250,000 square feet at 3201 Olympus Blvd. The consolidation is scheduled for completion by quarter three of 2019.

Bustling location

The mixed-use development will bring about an Olympus Boulevard extension connecting Interstate 635 to Belt Line Road. In 2022, a DART station on the Cotton Belt Line will also open. “With all the activity at Cypress Waters, Billingsley is breaking ground on another 250,000-square-foot spec building this summer and a fifth 250,000-square-foot building on Olympus Boulevard in January 2019,” said Marijke Lantz, senior vice president of Business Pursuits, Billingsley Co., in prepared remarks. 

Cushman & Wakefield’s Vice Chairman Randy Cooper, Executive Managing Directors Craig Wilson, Chris Wood and Scott Goldman, along with Director Chad Tsitovich, represented Nokia in the lease transaction. Lantz represented Billingsley Co.

“This move will consolidate our Irving and Plano operations into a single location, bringing our family of over 2,300 employees into one master-planned community,” added Dave Senior, head of workplace resources for the Americas, Nokia, in a prepared statement. 

Image courtesy of Billingsley Co.