DFW OFFICE Facts & Figures

Dallas Cbd

Current Events

One of downtown Dallas’ largest skyscraper redevelopments is set to welcome its first apartment residents starting next month. Pacific Elm Properties and Mintwood Real Estate have converted 11 floors of the 50-story Santander Tower at 1601 Elm Street into luxury rental units. They have begun leasing for the apartments, called Peridot, and expect them to be ready for move-in starting in July.

A local law firm is headed to new digs in Dallas’ tallest tower. Simon Greenstone Panatier P.C. is leasing more than 28K SF in the Bank of America Plaza, Main Street. The firm founded in 2006 is moving from Renaissance Tower. “We are incredibly excited about this move,” managing partner David Greenstone said in a statement. “It is the perfect location for our firm to continue to grow so that we can continue the important work that we are doing on behalf of our clients.”

Fortis Property Group is gearing up for a multimillion-dollar makeover for Chase Tower in Downtown Dallas. The 55-story skyscraper will be renamed Dallas Arts Tower and will receive a new lobby and two new restaurants, according to a news release. Construction is expected to start in late summer, with completion in early 2024.

A new office tower just east of downtown Dallas has landed a tenant. The Epic II tower at 2500 Pacific Avenue was built to house a huge regional office for the transportation firm Uber. But Uber never moved into the bulk of its space in the half a million-square-foot Deep Ellum high-rise. Now a design firm is moving its Dallas studio into the building.

Dallas’ Design District is sprouting a new crop of construction cranes. Developers are building a series of major office and apartment projects in the area northwest of downtown. The neighborhood that got its start in the 1950s as a riverside industrial district later became an address for design firms that wanted showrooms near the wholesale trade marts along Stemmons Freeway. More than a decade after the first apartment developers landed in the Design District, another wave of construction is bringing the kind of offices and luxury rental highrises that would be at home in the nearby Uptown area.

A tower in Dallas is on the list of downtown buildings heading for a residential conversion. The 211 North Ervay high-rise is known for its bright exterior of azure and aquamarine blue panels. Built in 1958, the office building sat empty for years before a renovation in 2014. The midcentury tower gained a following after a previous Dallas mayor declared it downtown’s worst eyesore and called for the wrecking ball. Preservationists cite the building at Ervay and Elm streets as one of the best examples of the city’s colorful 1950s architecture. A new owner plans to keep the tower’s vibrant exterior while transforming the interior space into housing. Wolfe Investments acquired the 187K SF tower with plans to redevelop the property into 238 rental units.

Top Lease Transactions

• Simon Greenstone Panatier signed a 28.4K SF lease at Bank of America Plaza, located at 901 Main Street, Dallas, Texas 75202.

Deals In The Market

• Landmark Center is being marketed for sale by JLL. Spear Street owns the 131,320 SF building, which is 17% leased. This deal was awarded to an owner/ user in May and is currently U/C.

New Developments

• Field Street Tower | 2012 N Field Street – A 529K SF class A office district (proposed)

• Field Street District - Phase I | 1100 McKinney Avenue – A 500K SF class A office tower (proposed)

• Field Street District - Phase II | 1012 McKinney Avenue – A 500K SF class A Office tower (proposed)

• 555 S Pearl | 555 S Pearl Expressway – A 486K SF class B office tower (proposed)

• 2500 Ross Avenue – A 425K SF class A office tower (proposed)

• Two Arts Plaza | 1900 Routh Street – A 283K SF class A office tower (proposed)

Vital Stats

Large Existing Vacancies

• Renaissance Tower | 1201 Elm Street –622,880 SF

• Fountain Place | 1445 Ross Avenue –589,268 SF

• Field Street Tower – 529,038 SF

• Field Street. District - Phase 2 –500KSF

• Field Street District - Phase 1 – 500K SF

• 555 S Pearl Expressway – 486K SF

• Energy Plaza | 1601 Bryan Street –400K SF

• Bank of America Plaza | 901 Main Street – 314,729 SF

• Two Arts Plaza – 296,800 SF

• 1700 Pacific | 1700 Pacific Avenue –270,822 SF

• Bryan Tower | 2001 Bryan Street –226,975 SF

• Dallas Arts Tower – 193,203 SF

• Harwood Center | 1999 Bryan Street –187,728 SF

• Comerica Bank Tower | 1717 Main Street – 148,025 SF

• East Quarter | 300 S Pearl Expressway – 136,245 SF

• Radiance Plaza | 1301 Young Street –117,673 SF

• One Main | 1201 Main Street – 115,410 SF