A Dallas-based firm specializing in office space operations has leased a shared office building in Plano.
Lucid Private Offices — formerly WorkSuites — announced that the firm has leased 31,000 square feet of office space on the top floor of a recently constructed class-A office building at International Business Park (IBP) in Plano, according to a press release from the company.
IBP is owned by local real estate developer Billingsley Co. The firm has constructed numerous office buildings throughout North Texas, including more than 1.7 million square feet of office space across 13 buildings on the 300-acre IBP campus.
Lucid’s new quarters are on the top floor of a five-story structure located at 6275 W. Plano Pkwy., near the northwest corner of the Dallas North Tollway and George Bush Turnpike. The building offers 48,000 square feet of space per floor, conference and coworking spaces, and balcony access on the top two floors.
Adjacent to the office building is a 10,000-square-foot amenity center with a fitness area, a tenant lounge, a mini-market, and more.
“We are excited to welcome Lucid to International Business Park,” Lucy Burns, partner at Billingsley, said in the news statement. “Lucid is the first executive suite operator in International Business Park, and they will be a great addition to the mix of space offerings on campus.”
Jones Lang LaSalle’s (JLL) Trevor Franke and Gini Rounsaville negotiated the lease with CRESA’s John Pelletier and Austin Studebaker, who represented Lucid in the deal, according to the press release.
“We are thrilled to have facilitated this lease for Lucid Private Offices at International Business Park,” Franke stated in the release. “We are confident that Lucid Private Offices will thrive in this new space.”
Founded under the name WorkSuites in 2001, the coworking firm rebranded itself after opening a location at McKinney’s Craig Ranch in 2022. The name change was brought about to invoke the suggestion of premium private offices, according to Flip Howard, founder and CEO of Lucid Office Space.
“We felt like our name was holding us back from being perceived as what we are,” he said at the time, as The Dallas Morning News reported.
Lucid Private Offices has more than 24 locations throughout DFW, Houston, and Atlanta, with more planned in the future, the company’s website shows. The Plano location is currently in the pre-leasing phase and has a scheduled opening date of October 1, 2023.
The Dallas Express reached out to Lucid Private Offices for more details about the project but did not receive a response by publication time.
As real estate demand skyrockets in places like Plano and Frisco, it shines a light on the reality that the city of Dallas is hamstrung by its own building permit process. With some initial building permit applications taking roughly 1.5 months to review and approve, many developers and construction experts — as reported previously by The Dallas Express — choose to take their projects to more developer-friendly cities.
