One of the area’s largest tax firms is expanding its footprint.
The deal involves two unrelated firms with similar names. Ryan LLC — not to be confused with Minnesota-based developer Ryan Companies — is moving its corporate headquarters to Ryan Tower, a recently completed 23-story office building in Plano’s Legacy West, according to a release from Ryan Companies, which co-developed the building.
The Dallas-based tax firm is expected to take up half of the 409,000-square-foot property and will move next year. It will be exiting Piedmont Office Realty Trust’s Three Galleria Tower, at 13155 Noel Road in Dallas.
Ryan will be joined in Plano by Koch Industries, which inked a deal to occupy 29,000 square feet of the building.
Construction began in the summer of 2022. Koch Real Estate Investments also partnered with Ryan Companies to develop the property. Lincoln Property Company will manage the property, while JLL is handling leasing.
The developer was able to deliver the project “on time and on budget” in spite of market challenges, said Hank Biddle, Ryan Companies’ director of development.
Ryan Tower will feature a gym, coffee bar, cafe, tenant lounge and an outdoor pickleball court.
The building, which was designed by Gensler, is set on 3.6 acres at 8101 Windrose, which is near the corner of State Highway 121 and Dallas North Tollway. The location offers easy access to the area’s most popular mixed-use developments, including Shops at Legacy and The Star in Frisco.
Office vacancy in DFW hovers around 26 percent, according to CBRE. But the market’s woes are unevenly distributed across its inventory, with older office properties struggling to fill space amid changes to remote work norms.
New office buildings with lots of amenities, like Ryan Tower, are having a much easier time finding tenants.
