Hobbs Brook Buys 17 Cowboys Way in Frisco From Jerry Jones

Blue Star Land Sells in a Red-Hot Submarket

According to Bisnow, Jerry Jones’ Blue Star Land agreed to sell the office tower at 17 Cowboys Way. The 313,000-plus SF property sits within The Star mixed-use development in Frisco, Texas. Hobbs Brook Real Estate, the real estate arm of FM Investments, will acquire the building.

The transaction marks Hobbs Brook’s first Texas property and adds a trophy office asset to its portfolio. Frisco remains a favored corporate relocation target within Dallas-Fort Worth. CBRE data shows northern DFW submarkets have remained resilient despite broader office market pressures.

The Details

Hobbs Brook acquired the 11-story, Class-A building for an undisclosed price. The property contains more than 313,000 SF within The Star’s 91-acre master-planned development. The district combines offices, sports, retail, entertainment, and hospitality.

At closing, 17 Cowboys Way reported 98% occupancy. Tenants include Fifth Third Bank, Cain Watters & Associates, McAfee, and Baker Tilly U.S. Newmark advised on the transaction. The acquisition expands Hobbs Brook beyond its traditional New England and Southeast markets.

Frisco’s Office Appeal Grows

Corporate relocations and business expansions continue strengthening Frisco’s position within the DFW office market. CBRE ranks Frisco among DFW’s stronger nodes for leasing velocity and stable rent growth. Meanwhile, the wider metro continues facing elevated vacancies and sublease pressures.

The Star attracts professional services and technology companies seeking prominent mixed-use locations. Frisco’s momentum also extends beyond offices, as the Dallas Stars’ relocation plans reinforce suburban investment and development activity. Hobbs Brook’s purchase reflects institutional demand for stabilized, amenity-rich assets across growing Sun Belt markets. Competition for credit-anchored office towers has intensified as more Northeast-backed capital enters Frisco and Plano.

Why It Matters

The transaction highlights the strength of select North Dallas office submarkets despite broader national challenges. Top-tier buildings with strong amenities continue outperforming less competitive properties. Savills reported 15% higher occupancy for strategically located DFW Class-A offices than the metro average in Q2 2026.

Hobbs Brook is betting on Texas’ continued demographic and economic growth. The nearly fully occupied property offers protection against broader office volatility. Blue Star Land’s exit also shows that stabilized assets can maintain liquidity despite uncertain market conditions.

For brokers and developers, the sale provides another pricing signal for Frisco’s office market. Branded properties with visible anchor tenants continue attracting institutional interest. The transaction could also establish a benchmark for future trades across Frisco’s expanding development pipeline.

What’s Next

Institutional investors could increase their search for stabilized office properties across northern DFW. Frisco continues attracting residents and businesses, while The Star strengthens its position as a premier mixed-use district. Original developers may respond by selling mature assets and recycling capital into new projects.

For Hobbs Brook, 17 Cowboys Way could provide a platform for additional Texas investments. Brokers will also watch comparable properties for signs of stronger transaction activity. Upcoming quarters should reveal whether leasing strength drives more major acquisitions around The Star and surrounding submarkets.