Friday, January 15, 2016

OneSource Virtual to relocate U.S. headquarters, 1,300 employees to Cypress Waters

Irving-based OneSource Virtual Inc. could relocate and expand its U.S. headquarters to a speculative building within the Dallas city boundaries of Cypress Waters, which could bring at least 1,300 employees to the city.

The business application provider has been evaluating sites in Arizona and North Texas for its new U.S. headquarters. But a decision could be made soon if OneSource Virtual lands a proposed economic development grant of $800,000 for its headquarters expansion at an existing building at 9001 Cypress Waters Blvd. in Dallas.

The $44.9 million, 217,169-square-foot office building is underway by Dallas-based Billingsley Co., which is developing the $3.5 billion mixed-use development that sits in Dallas and Irving.

OneSource Virtual could lease the building for 10 years with two additional 5-year renewal options, with plans to invest about $5 million in new business personal property at the facility, according to city documents. Construction on the building is slated for completion by August 2016.

If the deal goes through, OneSource Virtual plans to move at least 900 full-time employees into the building by early 2017.

Link to full article here

By Candace Carlisle for Dallas Business Journal