Wingstop is hungry for more office space in North Texas.
The restaurant chain plans to relocate its headquarters from Addison to One West Village, at 2801 North Central Expressway, in Uptown Dallas, where it will lease 112,000 square feet, the Dallas Morning News reported. It is the former headquarters of the Richards Group, now known as TRG, an ad agency that moved to Deep Ellum.
The lease marks an expansion for Wingstop, a much-needed win for an office market facing a slew of company downsizings that continue to drive up vacancies across Dallas-Fort Worth. The region’s office vacancy rate reached 21.2 percent in the fourth quarter, according to Cushman & Wakefield.
Wingstop is leaving a 78,000-square-foot building at 15505 Wright Brothers Drive, in the north suburb of Addison. The company bought that three-story building for $18.3 million, almost $235 per square foot, in 2019.
The chicken-wing chain’s decision to expand its DFW footprint was driven by its rapid growth; it has established 2,200 locations worldwide since it was founded 30 years ago. Notably, the company achieved its 20th consecutive year of same-store sales growth in fiscal year 2023, with sales soaring by 27 percent to approximately $3.5 billion.
“At Wingstop we have our sights set on becoming a top 10 global restaurant brand, and we believe our people are our competitive advantage,” Wingstop senior vice president Donnie Upshaw told the outlet.
One West Village is owned by a venture of OliveMill Holdings, Dallas-based Hunt Realty and New York-based Angelo, Gordon & Company. They bought the highly visible building in 2022.
“It features a signature peekaboo 3-story staircase atrium high up in the tower that catches the eye of countless drivers down below,” Dallas Innovates wrote last year.
Wingstop’s lease further solidifies Uptown’s growing reputation as Dallas’ premier office destination for developers and corporations alike. Since last year, companies like Bank of America, PMG, Revantage and Deloitte have made leasing commitments to flashy office buildings that are under development.
—Quinn Donoghue
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