Karahan JV Eyes 11 MSF Dallas-Area Office Project

October 9, 2026

Development Dallas News Office More Southwest

The development is part of a larger 2,500-acre property.

A partnership of The Karahan Cos., KDC, Hunt Realty Investments, Chief Partners and Cross Tie Capital are planning to construct 11 million square feet of build-to-suit office space inside the 2,545-acre Fields master-planned development in Frisco, Texas.

Other partners include CBRE, Gensler, Kimley-Horn, SHOP Cos. and Trammel Crow Co. The entire project is valued at $10 to $15 billion, as reported by The Dallas Morning News.

The Fields already comprises the 600-acre headquarters of the Professional Golfers’ Association of America, a 500-key hotel, as well as the first Universal Kids Resort in the U.S., which opened this summer.

The Fields West, a mixed-use district consisting of 710,000 square feet of retail and office space combined, in addition to 1,150 multifamily units, is under construction. The project, which occupies 55 acres inside the larger master-planned development, will come online in phases between 2027 and 2028. A consortium consisting of some of the largest commercial lenders, such as Bank of America, JP Morgan and Prosperity Bank, funded the commercial component with a $425 million loan last year.

Outside of the planned 11 million square feet of office space, The Fields’ blueprints also encompass more than 250 acres for parks and open spaces, 89 acres for lakes and water features, as well as some 25 miles of hike and bike trails.

North Texas’ biggest master-planned developments

Upon completion, The Fields could become one of the largest master-planned Dallas developments, rivaling the 15 million-square-foot Legacy Business Park. Legacy is a 2,665-acre project in the neighboring town of Plano, Texas. Notably, the same team of The Karahan Cos. and KDC is behind one of the mega development’s components, Legacy West. That 240-acre mixed-use property includes FedEx and Toyota’s North American headquarters, as well as regional campuses for Liberty Mutual and JP Morgan.

Another giant master-planned development is underway in Frisco, spearheaded by HALL Group. Legacy spillover boosted office leasing at the $7 billion, 162-acre HALL Park development, with JP Morgan expanding to the campus, joined by Public Storage, Hershey and Deloitte. What’s more, work continues at HALL Park, with construction on a 10-story, $140 million office building kicking off earlier this year.

Frisco registered 602,050 square feet of office space underway as of September, according to an Avison Young report. That accounted for nearly one-fifth of the Metroplex’s entire pipeline. Additionally, the submarket logged an asking rent of $53.3 per square foot, marking a 39.6 percent premium compared to Dallas-Fort Worth’s average.