Cheddar’s Becomes First Office Tenant at Cypress Waters
- Feb 17, 2014
By Amalia Otet, Associate Editor
Billingsley Co. announced plans to break ground on a new office building at Cypress Waters, its 1,000-acre master-planned development that straddles Dallas and Irving. The new compound will serve as the Cheddar’s Casual Café corporate headquarters.
To be located on Ranch Trail and Interstate Highway 635 in Irving, the single-story building will offer 31,450 square feet of build-to-suit office space. Construction is expected to be complete in late May, and Cheddar’s will have the ability to further expand the footage to accommodate future growth, according to Citybizlist.
“Billingsley takes pride in our established history of delivering superior spaces and services. We were able to meet a very tight move-in schedule and are happy to show off our speed to market,” commented Marijke Lantz, senior vice president of investments and build-to-suit.“It’s exciting to see the office zone of Cypress Waters take shape. We are thrilled to have Cheddar’s as our first office tenant.”
Jim Montgomery and William Mason of Swearingen Realty Group LLC represented Irving-based Cheddar’s Restaurants.
“As Cheddar’s continues to expand nationwide and our support center increases to support 150 restaurants in 28 states, it was clear we needed a headquarters that could accommodate our growing team,” said Rick Payne, Cheddar’s senior vice president of administration & purchasing, in a statement for the press. “Our new space at Cypress Waters will offer an open, collaborative design flow, a test kitchen for R&D and a training wing.”
Several projects are currently underway at the Cypress Waters complex, including a 188,440-square-foot, three-story speculative office building at 8951 Cypress Waters Blvd., as previously reported by Commercial Property Executive.
At full build-out, Cypress Waters will include as much as 4 million square feet of office space, 45,000 square feet of retail space, more than 10,000 residences, as well as three schools and a lakeside town center.
Rendering of Cypress Waters via Billingsley Co. official website