May 01, 2017

Developer Bill Cawley hits it into high gear with his next Tollway office building

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Dallas Business Journal: Developer Bill Cawley hits it into high gear with his next Tollway office building

Senior Reporter

Dallas developer Bill Cawley has begun his next office building along the Dallas North Tollway, between Belt Line Road and Spring Valley Road, which will bring the new home for Occidental Petroleum Corp. (NYSE: OXY) to fruition.

Oxy’s chemical division signed a lease for roughly half the building — or 120,000 square feet of office space — in a long-term deal. The remainder of the building will be put on the market.

The six-story, 240,000-square-foot building, known as Fourteen 555, sits at 14555 Dallas Parkway in Addison, and is a result of the success Cawley and his team has seen with Tollway Center and Knoll Trail Plaza.

“Like Tollway Center and Knoll Trail Plaza, Fourteen 555 features a state-of-the-art fitness center, conference center and our signature rooftop terrace,” said Cawley, CEO of Dallas-based Cawley Partners, in a statement.

“However, all of the amenities for Fourteen 555 will be located in a separate amenity building called The Hub, which will also feature a large courtyard,” he added. “Tenants and their employees look for walkability in the new office space.”

Cawley, Jeremy Duggins, Addie Ludwig and Kristi Waddell of Cawley Partners is leasing the building’s remaining leasable space.

First United Bank provided the construction loan for the office property, which was designed by Dallas-based BOKA Powell. Hill & Wilkinson of Richardson is the general contractor on the project.