In a move that immediately reflects the growth and potential of the DFW real estate market, Meritage Homes will be relocating its regional headquarters to the Billingsley Company’s new Cypress Waters development. This Arizona-based building firm specializes in developing master-planned communities for single-family homes in a variety of price ranges. Meritage has leased 15,760 square feet of the multi-tenant Offices at Cypress Waters complex, located at 8840 Cypress Waters Boulevard. The Offices building, which comprises 165,000 square feet, is currently under construction. Meritage will take possession of their new regional office in FQ15.
The move comes in response to the incredible growth Meritage Homes has experienced in recent years. it is believed that the move will position Meritage to more effectively reach their growth goals. According to Marijke Lantz, senior vice president of investments and build-to-suits for Billingsley Co., “Location and on-campus amenities really moved the needle in their decision to go to Cypress Waters.”
The Offices at Cypress Waters are build-to-suit spaces with a lakeside setting. The Offices building is situated within a mixed-use development featuring over 400,000 square feet of retail amenities and restaurants and more than 10,000 multi-family living units.
Meritage also purchased 90 acres of homesites from Billingsley as a part of their regional headquarters leasing deal. The homesites are currently a part of Billingsley Company’s Austin Ranch development, a small planned community of 202 single-family homes. Austin Ranch was designed for completion in two stages, with Meritage now slated to complete both stages of the development. Previously, Billingsley had planned to build a multifamily complex of 525 units on the acreage.