With a 40-percent prelease in hand, Cawley Partners is developing a 120,000-square-foot office building along the Dallas North Tollway. Called Knoll Trail Plaza and designed by BOKA Powell, the four-story building will sit on the east side of the Tollway between Keller Springs and Westgrove.
Sundown Energy, which will have an ownership stake in the building, will house its headquarters in the new facility.
Todd Ashbrook, chief operating officer at Cawley Partners, said construction will kick off in the fourth quarter of 2013, with the building ready for occupancy by November of 2014.
The brick-faced property will offer four-per-1,000 parking, a fitness center, and a cafe on the top floor.
Early interest in the 60,000 square feet that remains available is strong, said Bill Cawley, chairman and CEO.
“This project is driven by a need we see in the market,” he said. “It offers the amenities of Addison, and perks the market hasn’t really seen—like a rooftop terrace with fire pits and views of Bent Tree Country Club.”
Cawley also has two office developments in the works in Plano with real estate investor Toby Haggard, and another near Dallas/Fort Worth International Airport, at Interstate 635 and Belt Line Road in Irving.
“There is more activity on overall our portfolio than I’ve ever experienced in my career,” he said. “I’ve never seen the volume of business. It’s unbelievable.”