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DALLAS-Koll Development Co. and Rosewood Property Co. are rolling out an office build-to-suit lease program for 103.25 freeway-fronting acres in Plano, Garland and Irving. The joint venture alliance, pulled together in a non-compete scenario, opens the door for nearly 1.5 million sf of office space.

The Dallas-based JV’s development program, which could include spec space, swings into motion for key intersections along the President George Bush Freeway or Texas 190. There are 50 acres at its junction with Custer Road in Plano; 40 acres at the kissing point with Campbell Road in Garland; and 10.3 acres at the Gateway Boulevard crossroads in the Las Colinas section of Irving. A 2.95-acre tract at the Texas 114-West MacArthur Road intersection, also in Las Colinas, stands alone as a restaurant site because it sits on the doorstep of Nokia Americas headquarters, a 295,000-sf class A office, that Koll built on Rosewood land about 11 years ago, the genesis for the today’s JV.

The long-time landowner was “waiting for these respective markets to mature,” Bill Guthrey, Koll’s senior vice president, tells GlobeSt.com. “It sounds too good to be true, but the reality is they are all very high-profile sites.”

In an early run at the market, Guthrey has proposals pending for the Las Colinas office site and the Plano land. A decision could be in hand within 60 days.

Rosewood will remain the property owner, with Koll picking up a minority ownership stake along with development rights. Guthrey says all sites could have some spec office, including Koll’s Intellicenter design, and possibly value office too. “We will let the market tell us,” he says. “But, we do think it will find its way into all these projects.”

In addition, Guthrey says medical office and ancillary retail space could rise as well. In Plano, five of the 50 acres have been set aside for retail. “But at the end of the day, it’s a build-to-suit scenario for corporate America,” Guthrey stresses. “And, it’s really not for sale.”

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