In the first quarter of 2024, the Dallas-Fort Worth office market continued to show signs of resiliency and even cautious optimism. Despite difficult market conditions across the country, HLC’s Dallas office experienced a positive uptick in leasing activity across our portfolio and observed increased traction in the capital markets. Overall, the DFW office market experienced 879,147 SF of net absorption. Additionally, the average rental rate for the DFW office market also saw a slight increase, resulting in a 1.8% YoY increase from the prior quarter.
Healthcare and financial firms account for a majority of the absorption this quarter with legal and insurance firms accounting for large portions as well. The local and regional tenant base seeking 5K to 25K square feet is active and slowly but surely taking up the best space in the primary leasing markets. The large tenant activity seemingly remains idle, but HLC is tracking more large tenants in the market (+20k square feet) than we have been at any point in the last eighteen (18) months. Locationally, HLC continues to see the strongest demand for Class A office buildings in Uptown/Turtle Creek, Preston Center, Legacy, and other top-tier markets. With that said, we are also experiencing significant leasing activity and demand in many of DFW’s other historically well performing submarkets like Plano/Richardson, Lower Tollway, and Las Colinas. HLC is beginning to see more and more tenants look for well located, renovated buildings with amenities where they can get rent relief without compromising on the quality of the space they provide to their employees. HLC anticipates seeing continued demand for Class A product as well as increased demand for Class A- and B+ product throughout the remainder of the year.
The supply of newly delivered Class A office product in Dallas is never in question and 2024 will be no different. Demand for new construction with best-in-class amenities and walkability are achieving record rents in the midst of economic uncertainty. The first quarter of 2024 saw the delivery of Granite’s newest office building, Granite Park Six as well as the unveiling of Hines’ most recent office renovation, Maple Terrace. Other notable deliveries include Quadrant’s 1333 Oak Lawn and River Edge in the Design District. Beyond that, HLC is currently tracking over 3.2M SF of new class A office development set to be delivered this year with a majority of that in Uptown/Turtle Creek as well as Upper Tollway/ West Plano. Stream’s The Quad will be the next project to deliver in Uptown, already 32% pre-leased, followed closely by Old Parkland’s newest building in October. Crow Holding’s Southstone Yards, Dallas’ first ever mass timber building in Frisco, will also deliver later this year. Hall Office Group, Cawley Partners, Lincoln Property Co. and Ryan Development all have office projects set to be delivered by the end of the year.
Perhaps, one of the most notable stories, HLC’s office has tracked so far this year is the increase in quality office buildings to hit the market for sale. Hall Capital Group’s 3400 Carlisle hit the market in February and seems to have drummed up significant investor interest with an asking price of $17.0M (~$220/SF). Taconic’s International Plaza II (IP2) has peaked the interest of many institutional players who have been ‘sitting on the sideline’. IP2’s high-quality of construction, stable tenant base, strong weighted average lease term and rent roll make it one of the more compelling offerings to hit the market in the recent future. Billingsley Company also put up three of their office buildings for sale in International Business Park – IBP 8, 9, & 10. The guidance pricing for these assets is around $30.0M (~$100/SF). HLC is tracking all these transactions closely to see what transpires. Additionally, Parkway Centre IV was bought by BH Properties from Goldman Sachs for $15.5M ($100/SF), Bent Tree Green was bought by Bradford Commercial from Hartman for $8.5M ($61/SF), 4200 Regent was bought by Capital Commercial from Property Income Advisors for $9.0M ($57/SF), and perhaps the most notably, Collins Crossing was bought by RCP with Goldenrod for $35.0M ($115/SF). All of this activity points to a narrowing of the bid-ask gap which hopefully results in an end to the Buyer-Seller stalemate and more opportunities to enter into the market.
Despite the difficult headwinds and trends the office market is battling against today, HLC’s office team in Dallas is optimistic about the future. In the last 12 months, Dallas has become home to over 150,000 new people and the unemployment rate dropped by another 20 basis points. As long as those trends continue, leasing activity will continue to improve, and investor interest will remain high.
While you continue to navigate the dislocation in the DFW office market today, HLC would welcome the opportunity to be a resource for you and your team. To our existing clients and partners, we thank you for your continued trust in HLC and look forward to hearing from you soon!
• Wingstop signed a 112K SF lease at One West Village, located at 2801 N Central Expressway, in Dallas.
• Deloitte signed a 104.5K SF lease at 23 Springs, located 2323 Cedar Springs Road, in Dallas.
• Invesco signed a 58.4K SF lease at The Union, located at 2300 N Field Street, in Dallas.
• Learfield signed a 56K SF lease at One Lincoln Centre, located at 5400 LBJ Freeway, in Dallas.
• JP Morgan Chase signed a 31K SF lease at Hunt Consolidated Tower, located at 1900 N Akard Street, in Dallas.
• Collins Crossing, the 300,887 SF office building in Richardson was bought by Reserve Capital Partners and Goldenrod for $35.0M ($115/SF).
• Parkway Centre IV, the 155,000 SF office building in Plano was bought by BH Properties for $15.5M ($101/SF).
• Bent Tree Green, the 140,000 SF office building in Dallas was bought by Bradford Commercial for $8.5M ($61/SF).
• 4200 Regent, the 165,000 SF office building in Irving was bought by Capital Commercial for $9.0M ($57/SF).
• NCP, the 204,000 SF office building in Dallas was bought by Costco for $14.25M ($70/SF).
11,681
Net Absorption
$30.96
Average Gross Rate PSF 26.4% Vacancy N/A U/C SF N/A Delivered
• JP Morgan Chase signed a 31K SF lease at Hunt Consolidated Tower, located at 1900 N Akard Street, in Dallas.
• Littler Mendelson signed a 26.3K SF renewal at 2001 Ross Avenue, located in Dallas.
• US Dept of Justice signed a 20.6K SF lease at HilltopSecurities Tower, located at 717 N Harwood Street, in Dallas.
• Bradley Arant Boult Cummings, LLP signed a 20K SF lease at Fountain Place, located at 1445 Ross Avenue, in Dallas.
• The Sinclair, a 1.2M SF office building previously known as Energy Plaza, underwent a $300M renovation adding 238 luxury apartments with 450K SF of class A office space.
• Fountain Place | 1445 Ross Avenue –589,268 SF
• The Sinclair | 401 N Ervay Street –457,376 SF
• Renaissance Tower | 1201 Elm Street –370,683 SF
• Bank of America Plaza | 901 Main Street – 286,957 SF
• 1700 Pacific | 1700 Pacific Avenue –270,822 SF
• Dallas Arts Tower – 193,203 SF
• Harwood Center | 1999 Bryan Street –180,855 SF
• Comerica Bank Tower | 1717 Main Street – 148,025 SF
• East Quarter | 300 S Pearl Expressway – 137,157 SF
• Radiance Plaza | 1301 Young Street –117,673 SF
• One Main | 1201 Main Street –150,070 SF
• Plaza of the Americas | South Tower –109,964 SF
98,249 Net Absorption
$33.96
Average Gross Rate PSF 19.3% Vacancy N/A U/C SF N/A Delivered
• Lucid signed a 30K SF lease at 8080 NCX, located at 8080 N Central Expressway, in Dallas.
• Alzheimer Association signed a 6.8K SF lease at Knox Village, located at 3001 Knox Street, in Dallas.
• Dallas Wellness Center signed a 3.8K SF lease at 10000 NCX, located at 10000 N Central Expressway, in Dallas.
• Brighton Jones signed a 2.9K SF lease at Campbell Centre I, located at 8150 N Central Expressway, in Dallas.
• Schlehuber Insurance Company signed a 2.6K SF lease at Campbell Centre I, located at 8150 N Central Expressway, in Dallas.
• Cityplace Tower | 2711 N Haskell Avenue – 407,906 SF
• 8080 NCX | 8080 N Central Expressway – 125,505 SF
• 8750 NorthPark Central | 8750 N Central Expressway – 102,297 SF
• The Offices at Park Lane | 8080 Park Lane – 56,195 SF
• Energy Square 3 | 6688 N Central Expressway – 50,661 SF
• Walnut Glen Tower | 8144 Walnut Hill Lane – 50,467 SF
• The Gild South | 8150 N Central Expressway – 44,658 SF
• 10000 NCX | 10000 N Central Expressway – 42,905 SF
• The Pyramids at Park Lane North Tower | 9201 N Central Expressway –37,805 SF
254,580 Net Absorption
$37.33
Average Gross Rate PSF 24.4% Vacancy
3,486,525 U/C SF
144,242 Delivered
• White Rock Oil & Gas renewed and expanded their 8.3K SF lease at Lincoln Legacy Two, located at 5810 Tennyson Parkway, in Plano.
• Tetra Tech, Inc. renewed its 3.3K SF lease at Lincoln Legacy Two, located at 5810 Tennyson Parkway, in Plano.
• Quiddity Engineering signed a 18.2K SF lease at Parkway Centre II, located at 2805 Dallas Parkway, located in Plano.
• Crain & Wooley signed a 6.7K SF lease at Parkway Centre II, located at 2805 Dallas Parkway, in Plano.
• Lockton Dunning signed a 13.2K SF lease at Legacy Town Center II, located at 6900 Dallas Parkway, in Plano.
• World Wide Technology signed a 4.4K SF lease at Legacy West, located at 7600 Windrose Avenue, in Plano.
• Psupps Holdings, LLC signed a 12.2K SF lease at Duke Bridges III, located at 7460 Warren Parkway, located in Frisco.
• The Haskell Company signed a 26.5K SF lease at Hall Office Park A-2, located at 2591 Dallas Parkway, in Frisco.
• Preston Park Towers is being marketed for sale by Newmark. Terracap owns the 359,630 SF office buildings which are 87% leased. Guidance pricing is $55.0M ($153/SF). Offers were submitted in early November and came in ~1015% below guidance. Ownership is still working through offers and discussing next steps internally.
• Fields West – a 360K SF class A office building
• The Star | TIAA – a 500K SF class A office building
• The Tower at Hall Park – a 386K SF class A office building
• Southstone Yards – 241K SF class A office building
• Ryan Tower – a 409K SF class A office building
• 121 Commerce Center: Aqua – a 104K SF class A office building
• The Parkwood | Phase II – 120K SF class A office building
• 5400 Legacy | 5400 Legacy Drive –1,587,458 SF
• The Park at Legacy | 6501 Legacy Drive – 1,071,353 SF
• The Campus at Legacy | 5320 Legacy Drive – 500,865 SF
• Granite Park Six | 5525 Granite Parkway – 344,063 SF
• 6100 Legacy | 6100 Legacy Drive –328,887 SF
• AmerisourceBergen | 5025 Plano Parkway – 300,000 SF
• 5600 Headquarters | 5600 Headquarters Drive – 251,478 SF
• 6400 Legacy | 6400 Legacy Drive –227,577 SF
(128,018)
Net Absorption
$28.60
Average Gross Rate PSF 21.2% Vacancy N/A U/C SF
40,000 Delivered
• Aires renewed a 2.8K SF lease at Tollway Towers South, located at 15660 N Dallas Parkway, in Dallas.
• JE Simmons renewed a 2.7K SF lease at Tollway Towers North, located at 15770 N Dallas Parkway, in Dallas.
• Ceco signed a 24K SF lease at Spectrum Center, located at 5080 Spectrum Drive, in Addison.
• Tanium signed a 24.4K SF lease at Spectrum Center East, located at 5080 Spectrum Drive, in Addison.
• BG Staffing signed a 14.1K SF lease at Quorum Place, located a 14901 Quorum Drive, in Dallas.
• Solomon Insights signed a 12.5K SF lease at International Plaza II, located at 14241 Dallas Parkway, in Dallas.
• Blue Sky Bank signed a 10.1K SF lease at the Colonnade II, located at 15303 Dallas Parkway, in Addison.
• Stride Healthcare signed a 9.2K SF lease at Sojourn Office Center, located a 4450 Sojourn Drive, in Addison.
• Davadoss Law signed a 8.9K SF lease at The Belvedere, located at 14881 Quorum Drive, in Addsion.
• The Meadows signed a 7.5K SF lease at The Summit at Preston Trails - South, located a 17101 Preston Road, in Dallas.
• International Plaza II is being marketed for sale by JLL. Taconic owns the 360,000 SF office building which is 94% leased with an 11-year WALT. Guidance pricing is $135.0M ($370/SF) which equates to a 7.75-8.0% cap rate.
• The Colonnade is being auctioned for sale by JLL’s New York Office. The cost of buying into the equity position is $17.0M (OBO) which sits behind a $223.0M first lien. The 1,061,000 SF office building is currently ~74.0% leased to a diverse mix of tenants.
• 5000 and 5050 Quorum is being marketed for sale by Newmark. DRA Advisors own the 299,805 SF office buildings which are 84.0% leased. Guidance pricing is $27.0M ($90/SF)
• Liberty Plaza I & II is being marketed for sale by Newmark. HLC currently manages and leases the 216,834 SF office buildings which are 78% leased and owned by Franklin Street Properties.
• Parkway Plaza I & II is being marketed for sale by CBRE as a covered land play. Hartman owns the 136,506 SF buildings, which are 60% leased.
• Fourteen555 | Phase II – a 239K SF class A office building (proposed).
• 2395 Midway Bldgs A-D | 2395 Midway Road – 279,089 SF
• Colonnade III | 15305 N Dallas Parkway – 129,327 SF
• Galleria North Tower I | 13737 Noel Road – 96,806 SF
• Spectrum Center | 5080 Spectrum Drive – 93,183 SF
• Wright Brothers Corporate Center | 15505 Wright Brothers Drive – 78,569 SF
• Stanford Corporate Centre | 14001 N Dallas Parkway – 67,740 SF
• Addison Circle One | 15601 Dallas Parkway – 61,826 SF
• The Addison | 14951 N Dallas Parkway – 59,178 SF
• Sojourn Office Center | 4450 Sojourn Drive – 56,900 SF
• Preston Plaza | 17950 Preston Road –51,006 SF
49,068 Net Absorption $28.31
Average Gross Rate PSF 23.6% Vacancy
932,365 U/C SF N/A Delivered
VITAL STATS YTD STATS LAS COLINAS
• It’s a Secret MedSpa signed a 20.2K SF lease at Cascade One, located at 104 Decker Court, in Irving.
• Big 12 Conference signed a 14K SF lease at Williams Square, located at 5205 N O’Connor Boulevard, in Irving.
• Aecon signed a 4.7K SF lease at 8615 Freeport, located at 8615 Freeport Parkway, in Irving.
• Exceed Healthcare signed a 2.9K SF lease at MacArthur Center II, located a 5605 N MacArthur Boulevard, in Irving.
• Landpoint signed a 2.9K SF lease at The Embassy, located at 1431 Greenway Drive, in Irving.
• Riya Travel signed a 2.2K SF lease at MacArthur Plaza, located at 5525 N MacArthur Boulevard, in Irving.
• Home Key Properties signed a 2.2K SF lease at MacArthur Plaza, located at 5525 N MacArthur Boulevard, in Irving.
• MacArthur Plaza is being marketed for sale by Newmark. Brookwood owns the 186,694 SF building which is currently 55% leased. This deal hit the market on January 17th with guidance pricing of $14.0M ($75/SF).
• Westway One is being marketed for sale by CBRE. Hartman owns the 165,982 SF building, which is 83% leased. Guidance pricing is $14.0M ($84/SF).
• Fuller Ridge is being marketed for sale by JLL. Goddard owns the 285,467 SF office buildings, which are 66% leased. Guidance pricing is 14.25M ($50/SF). Ownership is still working through offers and discussing next steps internally.
• 10030 N MacArthur Boulevard is being marketed for sale by Newmark. Diversified Healthcare Trust owns the 94,137 SF building which is currently 0.0% leased.
• The T-Mobile Headquarters in Irving may be marketed for sale by CBRE. T-Mobile owns the 180,000 SF office building(s) that sit on 33-acres of land.
• Regent II Office Center (5150 Regent) is being marketed for sale by Colliers. Yonezawa owns the 76,400 SF building, which is 18.5% leased. Guidance pricing is $11.0M ($145/SF). Call for Offers was January 18th. Ownership is still working through offers and discussing next steps internally.
• The Royal Tech Commons Portfolio is being marketed for sale by JLL. The Dilweg Companies own the 11-building office portfolio in Irving that sits on a combined 63.83 acres of land.
• Wells Fargo | Building 1 – a 400K SF class A office building.
• Wells Fargo | Building 2 – a 400K SF class A office building.
• State Bank of Texas – a 52K SF class A office building.
• 3300 Olympus | 3300 Olympus Boulevard – 150,000 SF
• Las Colinas Connection | 6031 Connection Drive – 138,850 SF
• 8900 Freeport | 8900 Freeport Parkway – 268,446 SF
• The Reserve | 5959 Las Colinas Boulevard – 379,014 SF
• Las Colinas Office Center | 6655 N Macarthur Boulevard – 172,230 SF
• 6000 Connection | 6000 Connection Drive – 287,581 SF
• MacArthur Ridge II | 909 Hidden Ridge Drive – 132,735 SF
• One MacArthur Ridge | 919 Hidden Ridge Drive – 249,838 SF
• 3929 WJC | 3929 W John Carpenter Freeway – 125,421
• Browning Place III | 1605 Lyndon B Johnson Freeway – 170,848 SF
• Intellicenter Regent Center | 3701 Regent Boulevard – 155,356 SF
• Cypress Waters Office Park | 8950 Cypress Waters Boulevard – 175,584 SF
• Regent Commons | 4050 Regent Boulevard – 214,985 SF
• The Apex at Las Colinas Crossing | Building A | 6535 N State Highway 161 –271,778 SF
110,131
Net Absorption
$25.72
Average Gross Rate PSF 24.9% Vacancy N/A U/C SF N/A Delivered
• Learfield signed a 56K SF lease at One Lincoln Centre, located at 5400 LBJ Freeway, in Dallas.
• Imagine Solutions, LLC signed a 12.9K SF lease at Element Towers West, located at 3010 LBJ Freeway, in Dallas.
• Silverxis signed a 4.3K SF lease at One Hundred East Royal, located at 100 E Royal Lane, in Dallas.
• Stateside Right of Way Services signed a 2.8K SF lease at Element Towers West, located at 3010 LBJ Freeway, in Dallas.
• Churchill Towers hit the market on February 12th and is currently being marketed for sale by JLL. ANICO owns the 277,187 SF office building which is currently 67.3% leased. Guidance pricing is $25-27.0M ($90-100/SF).
• Three Forest Plaza is currently being marketed for sale by Goodwin Advisors (Evan Stone). Hartman owns the 366,549 SF office building which is currently 75.5% leased. Guidance pricing is $36.5M ($100/SF). This deal has not been awarded at this time.
• Gateway Tower, the Hartman-owned, 266,000 SF office building which is 55% leased is being marketed for sale by Younger Partners.
• 7171 Forest | 7171 Forest Lane –180,000 SF
• Park Central 8 | 12770 Merit Drive –145,024 SF
• Lakeside Square | 12377 Merit Drive –112,749 SF
• Three Galleria Tower | 13155 Noel Road – 92,977 SF
• Northpoint Plaza II | 9330 Amberton Parkway – 92,694 SF
• The Hightower Medical Plaza | 8390 Lyndon B Johnson Freeway – 66,381 SF
• Hillcrest Oaks Plaza | 6606 Lyndon B Johnson Freeway – 50,327 SF
• Two Lincoln Centre | 5420 Lyndon B Johnson Freeway – 48,971 SF
• The Lofts at Lincoln Centre | 5440 Lyndon B Johnson – 47,236 SF
• The Centre | 4000 S McEwen Road –46,769 SF
• One Galleria Tower | 13355 Noel Road –43,317 SF
• Coit Central Tower | 12001 N Central Expressway – 41,684 SF
(5,461) Net Absorption
$44.97
Average Gross Rate PSF 10.1% Vacancy
10,434 U/C SF N/A Delivered
• Stockdale Investment Group renewed and expanded its 11.8K SF lease at The Berkshire, located at 5950 Berkshire Lane, in Dallas.
• RimRock Energy Partners signed a 4.1K SF lease at 8222 Douglas Avenue, in Dallas.
• The Bridge signed a 3.5K SF lease at 5950 Sherry Lane, in Dallas.
• Guaranteed Rate Mortgage signed a 2.1K SF lease at 3100 Monticello, in Dallas.
• The Knox – a 150K SF class A office building.
• 8333 Douglas | 8333 Douglas Avenue –36,649 SF
• 5950 Sherry | 5950 Sherry Lane –27,948 SF
• 8111 Douglas | 8111 Douglas Avenue –27,590 SF
• The Terraces at Douglas Center | 5960 Berkshire Lane – 24,873 SF
• 8343 Douglas at Douglas Center | 8343 Douglas Avenue – 21,752 SF
• Preston Commons East Tower | 8115 Preston Road – 21,345 SF
• Sterling Plaza | 5949 Sherry Lane –20,644 SF
(14,954) Net Absorption
$24.09
Average Gross Rate PSF 17.3% Vacancy N/A U/C SF
12,500 Delivered
• Halo Microelectronics International Corporation signed a 3.5K SF lease at Collin Creek Corporate Center II, located at 1801 Alma Drive, in Plano.
• Proadapt signed a 18.7K SF lease at Palisades I, located at 2425 N Central Expressway, in Richardson.
• HH Architects signed a 16.3K SF lease at The Tower Lakeside Campus, located at 2221 Lakeside Boulevard, in Richardson.
• Medical Practice Solutions signed a 12.2K SF lease at 1125 E Campbell Road, in Richardson.
• Church World Services signed a 9K SF lease at 1010 Arapaho, located at 1010 E Arapaho Road, in Richardson.
• McCarthy Building Companies signed a 5.3K SF lease at 3400 Cityline, located at 3400 N Central Expressway, in Richardson.
• Dallas Piano Tuners, LLC signed a 5.2K SF lease at Richardson Commerce Centre, located at 13650 T I Boulevard, in Richardson.
• The Kirkpatrick Group, Inc. signed a 3.1K SF lease at Palisades Central II, located at 2435 N Central Expressway, in Richardson.
• Lookout Park I | 1301 E Lookout Drive –262,546 SF
• Galatyn Commons C | 2380 Performance Drive – 215,394 S
• Lakeside Tower | 2350 Lakeside Boulevard – 202,204 SF
• 2400 Glenville | 2400 N Glenville Drive –192,512 SF
• Assembly Park | 1717 E Spring Creek Parkway – 185,982 SF
• 2200 George Bush | 2200 E President George Bush Highway – 176,831 SF
• Waterview 190 | 17787 Waterview Parkway – 142,954 SF
• Galatyn Commons D | 1011 Galatyn Parkway – 133,184 SF
(16,529) Net Absorption
$32.12
Average Gross Rate PSF 11.3% Vacancy
460,954 U/C SF N/A Delivered
• Garney Construction signed a 5.9K SF lease at The Square at Craig Ranch, located at 7850 Collin McKinney Parkway, in McKinney.
• Innovar Media Solutions renewed its 3.2K SF lease at Summit Park, located at 2150 S Central Expressway, in McKinney.
• Forsite Renewables signed a 1.3K SF lease at The Square at Craig Ranch, located at 7850 Collin McKinney Parkway, in McKinney.
• Salience Health signed a 9K SF lease at Allen Tech Hub, located at 1050 N Central Expressway, in Allen.
• FarmWorks One (The Farm) – a 100K SF class A office building (proposed).
LARGE EXISTING VACANCIES
• 195 Murray Farm Road – 88,330 SF
• District 121 - West | 7300 SH 121 SB –76,314 SF
• McKinney Corporate Center I | 6800 Weiskopf Avenue – 41,357 SF
• The Cotton Mill | 610 Elm Street –33,000 SF
• McKinney Corporate Center | 6500 Meyer Way – 29,196 SF
• One Bethany West | 950 W Bethany Drive – 25,000 SF
• One Allen Center | 700 Central Expressway S – 23,887 SF
• Allen Tech Hub | 1050 N Central Expressway – 22,550
• 1700 N Redbud Boulevard – 22,281 SF
• Allen Place I | 450 Century Parkway –17,000 SF
13,772 Net Absorption
$26.18
Average Gross Rate PSF 18.1% Vacancy
349,247 U/C SF
282,743 Delivered
• State Farm signed a 16.1K SF lease at Founders Square, located at 900 Jackson Street, in Dallas
• MES signed a 2.3K SF lease at Woodview Tower, located at 1349 Empire Central Drive, in Dallas.
• River Edge – a 147K SF class A office building (delivered).
• Thirteen Thirty-Three – a 123K SF class A office building (delivered).
• The Connection at 8600 | 8600 Harry Hines Boulevard – 228,845 SF
• River Edge | 155 Riveredge Drive –146,955 SF
• Pegasus Park | 3000 Pegasus Park Drive – 133,477 SF
• Thirteen Thirty Three | 1333 Oak Lawn Avenue – 122,740 SF
• Tower Building 1 | 2525 N Stemmons Freeway – 101,178 SF
• The Infomart | 1950 N Stemmons Freeway – 51,934 SF
• Trinity Towers | 2777 N Stemmons Freeway – 46,074 SF
• 1430 Empire | 1430 Empire Central Drive – 40,000 SF
193,450 Net Absorption
$49.80
Average Gross Rate PSF
20.3% Vacancy
1,962,640 U/C SF N/A Delivered
• Mackey Mitchell Architects signed a 3.3K SF lease at 2811 McKinney, located at 2811 McKinney Avenue, in Dallas.
• Wingstop signed a 112K SF lease at One West Village, located at 2801 N Central Expressway, in Dallas.
• Tailwater Capital signed a 31K SF lease at Old Parkland, located at 4040 Maple Avenue, in Dallas.
• Berkshire residential signed a 7.2K SF lease at The Quad, located at 2699 Howell Street, in Dallas.
• Blum Firm signed a 6K SF lease at The Crescent, located at 100 Crescent Court, in Dallas.
• DMC - Dynamic Motion Controls signed a 4.3K SF lease at IBC Plaza, located at 3800 Maple Avenue, in Dallas.
• Fountain Residential signed a 3.5K SF lease 2626 Cole Avenue, in Dallas
• Johnswood signed a 3.5K SF lease at The Crescent, located at 100 Crescent Court, in Dallas.
• 3400 Carlisle is being marketed for sale by Newmark. Hall Capital owns the 76,381 SF office building which is 80% leased. Guidance pricing is 18.0M ($236/SF).
• Old Parkland | East – a 285K SF class A office building.
• The Quad – a 335K SF class A office building.
• 23Springs – a 625K SF Class A office building.
• Bank of America Tower at Parkside –a 500K SF class A office building.
• Goldman Sachs Campus – a 800K SF class A office building.
• Victory Commons One | 2601 Victory Avenue – 200,467 SF
• One West Village | 2801 N Central Expressway – 120,613 SF
• One Victory Park | 2323 Victory Avenue – 169,753 SF
• Maple Terrace | 3001 Maple Avenue –117,625 SF
• 2501 Cedar Springs Road – 112,143 SF
• 17Seventeen McKinney | 1717 McKinney Avenue – 53,748 SF
• Parkside Tower | 3500 Maple Avenue –51,008 SF
• Harwood No. 14 | 2801 N Harwood Street – 50,110 SF
YTD STATS
18,616
Net Absorption
$30.80
Average Gross Rate PSF 17.7% Vacancy
277,326 U/C SF
NORTH FORT WORTH /ALLIANCE
13,311 Delivered
VITAL STATS
• Farmer Brothers signed a 25K SF lease at 14501 North Freeway, Fort Worth, Texas 76177
• An undisclosed tenant signed a 9,083 SF lease at 3800 Sandshell Drive, Fort Worth, Texas 76137
• Highland Homes signed a 8,500 SF lease at 9900 Hillwood Parkway, Fort Worth, Texas 76177
• 7001 Boulevard 26 is being marketed for sale by Holt Lunsford Commercial, Inc. Cowan Company Inc owns the 101,396 SF class B office building currently at 49% leased.
• 2301 Eagle Parkway is being marketed for sale by David & Bogel Real Estate. Cogency Global owns the 73,747 SF class B office building that is currently at 90.3% leased.
• 8101 Boat Club Road is being marketed for sale by Colonial Commercial Real Estate, LLC. William Galle owns the 24,990 SF class B office building currently at 94% leased.
• I-35 & Highway 287 – a 75K SF class A office building
• Golden Triangle & Alta Vista RD – a 57K SF class B office building
• 601 E Exchange Avenue – a 50,000 SF class B office building
• Alta Vista Road & N Beach Street – a 48K SF class A medical office building
• 9705 Tehama Ridge Parkway – a 30K SF class B office building
LARGE EXISTING VACANCIES
• 13650 Heritage
class A vacancy
• 5555 N Beach
B vacancy
• 14600 Heritage
class B vacancy
–
–
–
• 14501 North Freeway –
B vacancy
• 4600 Alliance Gateway Freeway – 140K SF class B vacancy
• 9900 Hillwood Parkway – 107,744 SF class A vacancy
2,249 Net Absorption
$22.39
Average Gross Rate PSF 11.6% Vacancy
33,190 U/C SF N/A Delivered
• An undisclosed tenant signed a lease for 28,386 SF at 2201 E Lamar Boulevard, Fort Worth, Texas 76006.
• Red Bee Media signed a lease for 11,775 SF at 1901 N State Highway 360, Fort Worth, Texas 75050.
• Roof Fix signed a lease for 8,205 SF at 701 Highlander Boulevard, Fort Worth, Texas 76015.
• 1521 N Cooper Street is being marketed for sale by Younger Partners Dallas, LLC. Silver Star CRE, LLC owns the 115,700 SF class A office building that is currently 90.3% leased.
• 808 W Interstate Highway 20 is being marketed for sale by SVN | Trinity Advisors. David Cline owns the 27,581 SF class B office building that is currently 64.1% leased.
• 2212 Arlington Downs Road is being marketed for sale by CBRE. CAE USA owns the 27,296 SF class B office building.
• 2005 NE Green Oaks Boulevard is being marketed for sale by Champions DFW Commercial Realty. Holland & Knight owns the 19,431 SF class B office building that is currently 100% leased.
• 1401 Nolan Ryan Express | Ballpark Circle – a 131,337 SF class B vacancy
• 5000 S Bowen Road | The Atos Data Center – a 87,284 SF class B vacancy
• 1351 E Bardin Road | Bardin Pointe –a 46,288 SF class B vacancy
• 1250 E Copeland Road | Copeland Tower – a 43,674 SF class A vacancy
• 500 E Border Street – a 42,688 SF class A vacancy
77,484 Net Absorption
$19.96
Average Gross Rate PSF 13.0% Vacancy N/A U/C SF N/A Delivered
Corporate Centre at the Crossing
• An undisclosed tenant signed a lease for 4,770 SF at 404 Airport Freeway, Bedford, Texas 76022.
• First Western Securities signed a lease for 4,695 SF at 669 Airport Freeway, Hurst, Texas 76053.
• An undisclosed tenant signed a lease for 2,540 SF at 805 Forest Ridge Drive, Bedford, Texas 76022.
• 5750 Rufe Snow Drive is being marketed for sale by 4 Way Investments, Inc. 5750 RS Joint Venture, LLC owns the 25,275 SF class C office building that is currently 93.4% leased.
• 1501 Norwood Drive is being marketed for sale by United Real Estate Dallas. Advanced W & H LLC owns the 22,994 SF class C office building that is currently 100% leased.
• 720-722 W Euless Boulevard is being marketed for sale by LanCarte Commercial. Amelia Tomassi owns the 15,420 SF class B office building.
• 120 Wanda Way is being marketed for sale by Vision Commercial. Mohammad Bhola owns the 11,400 SF class C office building that is currently 47.4% leased. NOTABLE NEW DEVELOPMENTS
• 6440 Davis Boulevard – a 8,000 SF class B office building
• 84 Colleyville Boulevard – a 3,200 SF class B office building
• 5201 Rufe Snow Drive – 200,084 SF class B vacancy
• 8555 Airport Freeway –
B vacancy
• 2200 Highway 121 –
vacancy
• 1900 L Don Dodson Drive –
class B vacancy
• 9151 Grapevine Highway – 33,121
class B vacancy
71,817
Net Absorption
$33.08
Average Gross Rate PSF 17.9% Vacancy
96,489 U/C SF N/A Delivered
• Wells Fargo Bank signed a lease for 88,520 SF at 1301 Solana Boulevard, Fort Worth, Texas 76262.
• An undisclosed tenant signed a lease for 41,268 SF at 1900 W Kirkwood Boulevard, Fort Worth, Texas 76092.
• Encore Medical signed a lease for 5,219 SF at 2820 W Southlake Boulevard, Fort Worth, Texas 76092.
• 3400 William D. Tate Avenue is being marketed for sale by Avison Young. Benny Hinn Ministries owns the 56,520 SF class B office building that is currently 27.9% leased.
• 6500 Colleyville Boulevard is being marketed for sale by Vision Commercial. GCD Land Holdings LLC owns the 42,192 SF class B office building that is currently 23% leased.
• 445 S Kimball Avenue is being marketed for sale by Pillar Commercial, LLC. Pillar Commercial, LLC owns the 27,695 SF class B office building that is currently 86.3% leased.
• 380 S Nolen Drive is being marketed for sale by Glacier Commercial Realty LP. Zada White owns the 24,700 SF class B office building.
• 64 Tarragona Drive – a 21,419 SF class B office building
• 395 S Kimball Avenue – a 13,070 SF class B office building
• 1716 Keller Pkwy – a 6,000 SF class B office building
• 104 River Oaks Drive – a 5,000 SF class B office building
• 230 S Nolen Drive – a 1,577 SF class B office building
• 1500 Solana Boulevard – a 124,735 SF class A vacancy
• 1900 W Kirkwood Boulevard – a 117,504 SF class A vacancy
• 3120 Sabre Drive – a 98,135 SF class A vacancy
• 950 E State Highway 114 – a 52,265 SF class B vacancy
• 1600 Solana Boulevard – a 35,044 SF class A vacancy
16,547 Net Absorption $29.90
Average Gross Rate PSF 11.4% Vacancy N/A U/C SF N/A Delivered
• An undisclosed tenant has signed a lease for 12,495 SF at 777 Main Street, Fort Worth, Texas 76102.
• New Homes Alliance Texas has signed a lease for 7,131 SF at 907 Houston Street, Fort Worth, Texas 76102
• Empirical Financial Services has signed a lease for 2,896 SF at 300 Throckmorton Street, Fort Worth, Texas 76102
• 210 E 7th Street is being marketed for sale by Jim Finley Properties. Jim Finley Properties own the 82,226 SF class B office building.
• 512 W 4th Street is being marketed for sale by Lancarte Commercial Real Estate. The YMCA owns the 31,537 SF class B office building.
• 1100 Macon Street is being marketed for sale by Sentry CRE. Manuel & Teresa Diaz own the 30,699 SF class C office building.
• 210 E 7th Street | Binyon-O’Keefe Building – a 82,226 SF class B vacancy
• 301 Commerce Street | Bank of America Tower – a 62,660 SF class A vacancy
• 801 Cherry Street | Burnett Plaza – a 54,421 SF class A vacancy
• 777 Main Street | 777 Main – a 47,862 SF class A vacancy
• 640 Taylor Street | Frost Tower – 45,872 SF class A vacancy
71,038 Net Absorption $27.94
Average Gross Rate PSF 9.8% Vacancy
49,131 U/C SF
20,682 Delivered
• An undisclosed tenant signed a lease for 11,296 SF at 1300 S University Drive, Fort Worth, Texas 76107.
• Bella Living Psychological Services, PLLC signed a lease for 8,853 SF at 1600 W 7th Street, Fort Worth, Texas 76102
• DDF Commercial signed a lease for 6,302 SF at 685 John B Sias Memorial Parkway, Fort Worth, Texas 76134
• 4717 Fletcher Avenue is being marketed for sale by Colonial Commercial Real Estate, LLC. HK Venture owns the 53,564 SF class B office building.
• 930 W 1st Street is being marketed for sale by Altschuler and Company. 930 West LLC owns the 26,174 SF class B office building.
• 6451 Brentwood Stair Road is being marketed for sale by Burt Ladner Real Estate. TSC South Main LLC owns the 25,451 SF class C office building.
• 2400 N Kentucky Avenue – a 20,000
class B office building
• 1115 Pennsylvania Avenue – a 17,910
class B office building
• 6101 Southwest Boulevard – a 15,000 SF class B office building
• 465 S Main Street – a 13,449 SF class B office building
• 7040 Harris Parkway – a 8,000 SF class B office building
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• 6100 Western