Developers finishing work on a Frisco office building have signed their first lease.
Global wealth management and investment banking firm Stifel Financial has leased 10,000 square feet in the new Offices Two at Frisco Station.
Stifel is the first company announced for the 210,000-square-foot building, part of the $1.8 billion Frisco Station development. The speculative office building is wrapping up construction near Warren Parkway, west of the Dallas North Tollway.
"The incredible development of Frisco Station will bring the concept of live, work and play together, and we're proud to be a part of it," Kevin Karrh, branch manager at Stifel, said in a statement. "While Stifel is nearly 130 years old, it's still relatively new to many people in our area, so we knew we needed an office and location that reflects who we are — a true entrepreneurs' investment bank and a wealth management firm offering solid, studied advice, nationally recognized research, and a comprehensive range of products and services to help clients pursue their financial goals."
Karrh said the space gives the firm room to grow and will help "attract talented financial advisers who are looking to grow their careers."
Stifel is a financial services holding company based in St. Louis. Its business lines include banking, securities and financial services.
Stifel will move early next year into the six-story office built by Van Trust Real Estate. It has offices in Uptown and North Dallas.
Van Trust is a partner with developer Hillwood and Rudman Partnership in the entire 242-acre Frisco Station project.
Van Trust opened the first seven-story office at Frisco Station last year and leased it to tenants that included Brierley+Partners, Fiserv, Equinix and Kimley-Horn. That building was just acquired by a unit of Metropolitan Life Insurance.
"We are pleased to welcome Stifel to Frisco Station's growing corporate district, which has been experiencing tremendous leasing activity," said Chris McCluskey, vice president of development at Van Trust.
He said the office building's advanced technological capabilities and convenient location fit what Stifel wanted.
Scott Shelbourne with Cushman & Wakefield negotiated the transaction.
Van Trust Real Estate is working on plans for a third office building at Frisco Station that would be next door to the building where Stifel is moving. The developer just filed site plans for that project with the city of Frisco.
The buildings are part of a 5 million-square-foot corporate district in Frisco Station. The development is projected to eventually have a daytime population of more than 15,000 workers.
The project also has more than 600 apartments, with more on the way, and two new hotels. Construction is under way on a third hotel plus a planned retail and entertainment complex called the Hub district.
Dallas architect HKS designed the Frisco Station office buildings.
