KDC and The Karahan Companies Plan 11 Million Square Feet of Build-to-Suit Office at Fields in Frisco

FRISCO, Texas — KDC and The Karahan Companies announced Oct. 8 that they are teaming up to develop approximately 11 million square feet of build-to-suit office space at Fields, the 2,545-acre master-planned development in north Frisco. The partnership reunites the developers behind the Legacy West corporate relocations of Toyota, JPMorgan Chase, Liberty Mutual and FedEx.

The companies plan to source build-to-suit and office development opportunities on sites within Fields that can accommodate more than 11 million square feet. The figure represents development capacity across the property rather than space currently under construction. Construction is tied to corporate commitments, and KDC President Eric Hage has said it could begin in 2027.

Fields Office Development: Sites and Formats

Available land for office development is spread throughout Fields, with build-to-suit opportunities along four corridors: the Dallas North Tollway, Panther Creek Parkway, Highway 380 and PGA Parkway. Because the sites are distributed across the development, no single street address applies to the office program.

According to the announcement, Fields can accommodate a range of formats, from expansive low-rise campuses to mid-rise offices and trophy towers. The developers said the development's separate neighborhoods allow for a curated office environment at virtually any scale within one connected development.

Companies seeking build-to-suit opportunities at Fields were directed to contact Aarica Mims, KDC senior vice president, development.

Karahan and KDC Revive Legacy West Partnership

The Karahan Companies and KDC previously worked together on Legacy West, a mixed-use project in Plano at the southwest corner of the Dallas North Tollway and State Highway 121. KDC's work there includes four corporate build-to-suit projects: a 265,000-square-foot FedEx office headquarters complex, Toyota's North American headquarters, a Liberty Mutual regional campus and a JPMorgan Chase regional campus. The Karahan Companies served as master developer of Legacy West.

"KDC has been an incredible partner over the past 25 years. They continue to be one of the best developers in the country with an incredible track record of creating dynamic corporate campuses," said Fehmi Karahan, CEO of The Karahan Companies. "KDC's involvement in many recent relocation announcements is a testament to the company's unwavering commitment to quality and its ability to deliver the results corporations demand."

"Following Legacy West's success, teaming up with Fehmi once more is a tribute to the trust we've built and our shared vision for delivering high-quality assets," Hage said. "This renewed partnership allows us to build on our previous momentum and apply our collective insights to push the envelope even further on this new development."

KDC, founded in 1989 and headquartered in Dallas, says it has developed more than 150 corporate build-to-suit office, data center and industrial projects totaling approximately 40 million square feet. Its client list includes Wells Fargo, Digital Realty Trust, FedEx, JPMorgan Chase, Liberty Mutual, Raytheon, State Farm, Toyota North America and Volkswagen. The Karahan Companies has been active in Dallas-Fort Worth real estate since 1982.

Fields Ownership and Existing Components

Fields is co-developed and owned by The Karahan Companies and Hunt Realty Investments, alongside investors Chief Partners and Cross Tie Capital. The development sits off the Dallas North Tollway and is planned to include up to 14,000 homes and apartments, about 1 million square feet of retail, restaurant and entertainment space, and up to 11 million square feet of office space.

Existing components include the PGA of America Headquarters, the Omni PGA Frisco Resort & Spa, two 18-hole championship golf courses and the nation's first Universal Kids Resort, which opened this summer. Fields also has more than 25 miles of hike-and-bike trails that connect to Frisco's broader trail network.

Fields West, the pedestrian-friendly mixed-use district within Fields, includes 380,000 square feet of shopping, dining and entertainment. It has 44 executed leases and is 75% pre-leased. Approximately 350,000 square feet of Class A office space sits above the retail, along with 1,300 multifamily units. The Wentwood, a Class A apartment community developed by Columbus Realty Partners, has begun pre-leasing, with first residents moving in early 2027 and subsequent openings through 2027 and into 2028.

"From the very beginning, every element of the infrastructure has been meticulously thought out, from the roads and water features to the lakes and lushly landscaped medians," said Bill Guthrey, KDC senior vice president, land development.

Market Context: Office Demand Moves North

"As office demand continues to move north, Corporate America is looking for locations offering more than just a place to work," Mims said. "With a range of housing options, an impressive roster of amenities, and miles of trails and expansive green spaces, Fields offers the connectivity, convenience, and quality of life companies need to attract and retain top talent."

The build-to-suit approach differs from speculative office construction in that development is tied to corporate users, which can support financing and occupancy at delivery. For scale, Legacy Business Park and related developments have been described as totaling approximately 15 million square feet, placing the Fields office opportunity in a similar category if fully realized.

Fields has a projected total value of roughly $10 billion to $15 billion.

Sources

• KDC: The Karahan Companies and KDC Join Forces Again to Create a New Office Hub at Fields in Frisco