Billingsley’s Cypress Waters Project: Nokia Leases 350,000 SF

Nokia leases 350,000 SF in Billingsley project.

In Dallas, The City of Dallas and Billingsley Company, developer of Cypress Waters, reported that Nokia signed a lease for 350,000 SF to consolidate its Dallas-Fort Worth Metroplex operations and move its North American headquarters to Cypress Waters.

In Nokia will occupy two buildings in The Sound at Cypress Waters, the new lakefront, multi-use neighborhood with office, apartments, retail and restaurants located right on the water’s edge of the 362-acre North Lake.

“Nokia’s North American headquarters is a huge win for Cypress Waters,” said Lucy Billingsley, Partner, Billingsley Company.

The company will occupy 100,000 sq ft at 3100 Olympus, a multi-tenant building that is already home to Delta Companies and TAMKO, and 250,000 sq ft at the second building located at 3201 Olympus Blvd. Nokia’s target date for completion of the consolidation is early Q3 2019.

Lucy Burns, Partner, Billingsley, noted “The opening of the Olympus Blvd extension connecting I-635 to Belt Line Road will become a major thoroughfare for the citizens of Coppell and Irving. It will be a game-changer for everyone in the area. In 2022, our DART station on the Cotton Belt Line will open, furthering our incredible accessibility.”

Marijke Lantz, SVP of Business Pursuits, Billingsley, talked about future growth, “With all the activity at Cypress Waters, Billingsley is starting work on another 250,000-square-foot spec building this summer and a fifth 250,000-square-foot building on Olympus Boulevard in January 2019.”

Randy Cooper, Craig Wilson, Chad Tsitovich, Scott Goldman and Chris Wood of Cushman & Wakefield represented Nokia in its real estate search. Marijke Lantz represented Billingsley Company.