Three more office buildings, 58,000 square feet of retail and restaurant space and a 130-room hotel are also planned in the project.
“We are honored to expand our footprint in Texas to so many growing entrepreneurial communities where members can connect, be inspired and improve their businesses,” Jason Anderson, Venture X Brand President, said in a statement.
Venture X already has shared office locations in the Legacy West development in Plano, in Dallas’ Uptown district, on Central Expressway in North Dallas and near the Dallas Galleria.
Chris Doggett and Ashley Curry with commercial real estate firm JLL negotiated the new Venture X office lease with Ryan Hoopes and Tom Sutherland with Cushman & Wakefield.
“The greater Dallas-Fort Worth market has been established as one of the top markets for coworking in North America,” Hoopes said. “We continue to thoroughly survey the market for the very best coworking locations in top submarkets for Venture X, Stonebrook Business Park and Frisco fit that criteria entirely.”
D-FW is one of the fastest growing markets for coworking firms, which already occupy more than 3 million square feet of such flexible business space, according to JLL.
Last year coworking office growth nationwide gobbled up more than 20 million square feet of office space – second only to tech firm demand.
Along with Venture X, other coworking companies are also expanding in North Texas including WeWork, Spaces, Common Desk, Industrious and Serendipity Labs.