The real estate company led by Dallas Cowboys owner Jerry Jones has sold one of its office assets, a tower located at 17 Cowboys Way. The property, totaling 313,417 square feet of office space, was acquired by Hobbs Brook Real Estate, which serves as the real estate investment arm of FM Investment.
According to reporting from the Dallas Business Journal, the 11-story building had been owned by Blue Star and is described as being 98% leased at the time of sale. The tenant roster spans a mix of professional and corporate users, including Fifth Third Bank, Cain Watters & Associates, McAfee and Baker Tilly US. The near-full occupancy highlights the tower’s established position within its local office market.
The building offers several on-site amenities aimed at supporting tenant operations and workplace experience. These include a fitness center for employee wellness, conference facilities for meetings and collaboration, and outdoor gathering spaces that provide informal areas for tenants and visitors. The combination of amenities and high occupancy suggests the property has been actively maintained and positioned as an institutional-quality office asset.
The tower sits within The Star, the 91-acre development anchored by the Dallas Cowboys’ world headquarters and practice facility. Its location places it near the Omni Frisco Hotel at The Star, along with various curated dining and retail options and the private Cowboys Club. This broader mixed-use environment integrates office space with hospitality, entertainment, and retail uses, creating a campus-style setting for tenants and visitors.
Blue Star and Lincoln Property Company partnered on the development of the office tower, indicating a joint effort in bringing the project to market prior to this sale. While specific development timelines and costs were not disclosed, the partnership structure underscores institutional involvement in both the creation and long-term positioning of the asset.
Fifth Third Bank, one of the building’s tenants, has additional expansion plans in the region. The bank intends to establish its regional headquarters in a new 12-story tower in Preston Center, with the move likely occurring in 2028. Despite this future relocation for its regional headquarters functions, Fifth Third plans to maintain its existing office space at The Star as well as its footprint in southern Dallas, suggesting a continued multi-location strategy in the area.
Financial terms of the transaction between Blue Star and Hobbs Brook Real Estate were not made public, and no capitalization metrics or pricing details were disclosed in the available information. However, the combination of high occupancy, institutional buyer profile, and location within a branded mixed-use district positions this as a notable office investment trade in the Dallas market.
