Greystar Leases Office at DFW’s Cypress Waters

The nation’s largest apartment landlord is the latest company to set up shop in Coppell’s master-planned community Cypress Waters.

Greystar is leasing 32,000 square feet at 8840 Cypress Waters Boulevard, according to a state filing. The building’s owner, Dallas-based developer Billingsley Company, is completing a $900,000 renovation of the space for its new tenant. The project is expected to begin this month and be completed in December.

The office is in a three-story building that was constructed in 2014. It was valued at $26 million this year, Dallas County appraisal data show.

Billingsley Company started construction on Cypress Waters in 2013; the development now features 20 office buildings, 2,337 apartment units and 16 restaurants centered around a 362-acre lake. It also includes amenities like conference centers, gyms and a Coppell Independent School District elementary school.

The development is already home to big-name office tenants.

After opening an office in Cypress Waters in 2022, Alphabet biotech company Verily LIfe Sciences said in July that it’s moving headquarters to the development.

Centersquare moved its headquarters to Cypress Waters this spring. The data center provider leased 30,000 square feet at 3100 Olympus Boulevard.

AMN Healthcare signed one of the largest leases of 2022 at Cypress Waters when it leased 90,000 square feet at 2999 Olympus Boulevard.

Coppell is 20 miles northwest of downtown Dallas. Cypress Waters’ location offers easy access to Interstate 635 and is a 10-minute drive from DFW Airport.

South Carolina-based Greystar is the largest apartment manager in the country with almost 727,000 units, according to the National Multifamily Housing Council. The international real estate firm operates 66 offices worldwide.

Billingsley Company is a family-run business founded in 1978. It focuses on master-planned and mixed-use projects in Dallas-Fort Worth.