The future of AI innovation in Far North Dallas just got brighter, thanks to a big move from a local tech company.
Topaz Labs secured a $200,000 grant from the town of Addison to support its headquarters expansion at the Village on the Parkway, a 350,000-square-foot retail center at 5100 Belt Line Road, Bisnow reported.
The AI software company, led by CEO Eric Yang, will lease 28,200 square feet in Building 900, which is more than four times the space it occupies at 14555 North Dallas Parkway.
The company is set to move in by May, and it will invest at least $2.5 million into building out office and lab space; it plans to add 130 high-tech jobs by 2027.
Topaz will be the exclusive office tenant at the building, further cementing its role as a key player in Addison’s growing tech scene.
The expansion comes as a response to Topaz’s rapid growth, driven by the rising demand for its AI-powered photo and video enhancement tools.
NAI Robert Lynn represented Topaz Labs in securing the lease.
UBS Realty sold the 343,000-square-foot Village on the Parkway in 2021 to a local investment group tied to Active Cyber, a Dallas-based cybersecurity, enterprise planning and data and analytics firm, the Dallas Morning News previously reported.
Topaz’s move is part of a broader trend in North Texas, where companies in the technology sector are increasingly recognizing the region’s potential as a thriving hub for innovation.
Core Scientific, for instance, is converting its Bitcoin mining site in Denton into a $4 billion data center project to support AI technology. Additionally, DataBank is developing a $256 million facility in Red Oak, part of a larger campus south of Dallas, to enhance digital services and support AI advancements.
Prime Data Centers is also expanding its footprint in the region. The company is investing $3 billion to build facilities in southwest Fort Worth and Garland. Meanwhile, QTS Data Centers is embarking on a $220 million project in North Fort Worth.
— Andrew Terrell
Read more
Legacy landowner in West Texas surges on AI boom
Prime opens 243K sf data center in Vernon leased to two AI firms
How Hillwood’s industrial head is gearing up for the AI datacenter boom
