Wells Fargo acquires North Texas land that could house regional campus

In early August, Irving City Council approved incentives totaling $31 million for a forthcoming office development.

IRVING, Texas — This story originally appeared in the Dallas Business Journal, a WFAA news partner. 

Wells Fargo & Co. has acquired the land that is expected to house a regional campus for the banking giant, according to deed records filed with Dallas County on Sept. 30.

In early August, Irving City Council approved incentives totaling $31 million for a forthcoming office development that could become home to a new Wells Fargo regional campus.

For years, sources have said that Wells Fargo (NYSE: WFC) was targeting hundreds of thousands of square feet of office space to house thousands of workers, eventually settling on a build-to-suit option in the Dallas suburb of Irving after scouring North Texas.

The plans for the site, which will be developed by Dallas-based KDC, include two 400,000-square-foot buildings with the potential to hold 4,000 workers that are expected to be set within a broader mixed-use development.

The two office buildings are expected to sit within a larger mixed-use development featuring multifamily space with restaurants and retail. Wells Fargo’s potential ground-up project is expected to function as an anchor within a denser, mini-CBD surrounded by other notable companies, sources have said.

The office project will be constructed near the Irving Convention Center and Toyota Music Factory at the corner of West Las Colinas Boulevard and Promenade Parkway – one of the last and largest vacant sites in the area.

Some sources have concluded that an office development of this size could result in a headquarters relocation for Wells Fargo, though a spokesperson for the institution said in June it has “no plans” to move its headquarters.

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texasstandard.news contributed to this report.

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