DFW OFFICE Market Experts
DFW OFFICE Facts & Figures
DALLAS CBD
CURRENT EVENTS
Lerma Advertising signed a 28K SF office lease late last year in the Luminary building on Houston Street in downtown’s West End district. Now, the company is expanding the office to about 56K SF by taking another floor in the building.
Landmark Center, the six-story building on Ross Avenue in the West End Historic District, was built in 1913 as a warehouse for General Electric. After $7 million dollars in renovations, Landmark Center is up for sale. The offering includes the 0.64-acre surface lot fronting the entrance to the property, providing investors with additional development opportunities.
TOP LEASE TRANSACTIONS
• Henry Oddo Austin & Fletcher PC signed an 8,613 SF lease in Comerica Bank Tower.
DEALS IN THE MARKET
• Eastdil Secured marketed for sale The Stack. The 300K SF building is 100% leased
• Newmark marketed for sale 1825 Market Center. The 115K SF building is 70% leased.
• Cushman & Wakefield marketed for sale Saint Paul Place. The 273,217 building is 61.8% leased.
NEW DEVELOPMENTS
• One Newpark | 806 S Akard Street - a 500K SF class A office tower (proposed)
• Field Street Tower | 2012 N Field Street – a 534K SF class A office tower (proposed)
• Field Street District, Future Phase | 1100 McKinney Avenue – a 722K SF class A office district (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
• Fountain Place | 1445 Ross Avenue –589,268 SF
• Renaissance Tower | 1201 Elm Street –436,547 SF
• Energy Plaza | 1601 Bryan Street –400K SF
• Bank of America Plaza | 901 Main Street – 314,729 SF
• 1700 Pacific | 1700 Pacific Avenue –270,822 SF
• Chase Tower | 2200 Ross Avenue –193,102 SF
• Harwood Center | 1999 Bryan Street –187,728 SF
• Bryan Tower | 2001 Bryan Street –180,764 SF
• 300 S Pearl Expressway – 170,385 SF
• Comerica Bank Tower | 1717 Main Street – 148,025 SF
• One Main | 1201 Main Street – 115,410 SF
• Radiance Plaza | 1301 Young Street –107,463 SF
CENTRAL EXPRESSWAY
VITAL STATS
CURRENT EVENTS
Plano-based Sol-Ark is moving its head offices and production facilities to Allen. The company has leased a 115K SF office building at 805 North Central Expressway for its headquarters. The two-story building is just east of the Watters Creek shopping district and previously housed operations of Frontier Communications.
TOP LEASE TRANSACTIONS
• Seramik USA signed a 26K SF lease at 904 North Central Expressway in Plano.
• Stellar Home Maintenance signed a 21K SF lease at Quorum Place in Dallas.
• Elysium Consulting extended its 16K SF lease at The Gild South at 8150 North Central Expressway in Dallas.
• Dallas-based design firm SHM Architects signed a new 12K SF lease in the historic Meadows Building at Energy Square.
• Goranson Bain Ausley renewed 11.6K SF at The Gild North, located at 8350 North Central Expressway in Dallas.
• Pushpay signed a 10K SF lease in the One Bethany West building on North Central Expressway.
NEW DEVELOPMENTS
• The Central – a 500K SF class A office tower (proposed)
• Energy Square 4 – a 400K SF class A office tower (proposed)
• The Shops at Park Lane (8010 Park Lane) – a 352K SF class A office tower (proposed)
• The Tower at Preston Hollow Village – a 260K SF class A office tower (proposed)
• The Ivy - a 186K SF class A office tower (proposed)
LARGE EXISTING VACANCIES
• Cityplace Tower – 283K SF
• 8750 NorthPark Central - 144K SF
• Energy Square 1 - 101K SF
• 8080 NCX – 98K SF
• One Lincoln Park - 91K SF
• Walnut Glen Tower – 76K SF
Dallas’ SHM Architects have taken the top floor in the landmark Meadows Building on North Central Expressway. The historic office building is part of the 14acre Energy Square at North Central Expressway and University Drive.
Construction work is starting on one of Dallas’ historically largest mixed-use projects north of downtown. Located at the intersection of Haskell and U.S Highway 75, the 27-acre, 4M SF development is a project of Dallasbased De La Vega Development, projected to cost nearly $2.5 billion. The Central development plans to include four (4) high-rise office buildings, a hotel, retail and restaurants that are set to deliver in 2025.
Stockdale Investment Group and Hines are planning a mixed-used development along North Central Expressway in the Knox Street business district. Stockdale has owned the block for over a decade and plans to build 250K SF of office space, a 300-unit apartment tower and a senior housing high-rise with 225 homes in the development.
FAR NORTH DALLAS
CURRENT EVENTS
Larson Capital Management has purchased the Plaza at Legacy office building in Legacy business park. The 7-story, 215,499 SF office property is located east of the Dallas North Tollway on Legacy Drive.
Developer Heady Investments is building a two-building office and flex space on State Highway 121 near Watters Road. The proposed development is over 140K SF. One of the buildings has already been leased to Omnilife, a Mexicobased nutritional products and supplement firm. The company plans to use the location to house its U.S. headquarters.
Granite Properties’ development of Granite Park in Plano has topped out its 19th story on Granite Tower 6, one of the many office buildings in the complex at the southeast corner of the Dallas North Tollway and Highway 121. The 422k SF office building has been under construction since late last year and will open in Q3 2023. Granite Properties development of the Plano tower and the 23 Springs office high-rise in Uptown Dallas will contain more than 1M SF.
TOP LEASE TRANSACTIONS
• American Auto Auction Group leased 15K SF at The Colonnade, located at 15301 North Dallas Parkway in Addison.
• Cambium Learning signed a 15K SF lease at Briargrove Place at 17855 North Dallas Parkway in Dallas.
• Bare Dermatology signed an 11.5K SF lease at Frisco Medical Pavilion II, a Class-A, 60K SF medical office building that will eventually be located at 12950 Dallas Parkway in Frisco.
• Pushpay signed a 10K SF lease at One Bethany West in Allen’s 17-acre Watters Creek development.
• Buckingham Asset Management signed a 4,066 SF renewal in Lincoln Legacy Two.
DEALS IN THE MARKET
• Newmark marketed for sale The Campus at Legacy (5320 Legacy). The 394,405 SF twobuilding project is 40% leased.
• Colliers marketed for sale The Princeton. The 377,821 SF building is 60% leased.
• Colliers marketed for sale The Belvedere. The 141,180 SF building is 74.4% leased.
NEW DEVELOPMENTS
• The Link at Fields Frisco | Legacy Drive & PGA Parkway – a 2M SF class A office complex (proposed)
• IBP 190 | Highway 190 & Midway RoadBuilding 1,2,3 – a 1M SF class A office park (proposed)
• The Offices at The Gate | 4205 Dallas Parkway – a 1M SF class A office complex (proposed)
• 15555 N Dallas Parkway – a 504K SF class A office building (proposed)
• Tate + Toll | SEC of Warren Parkway & Dallas N Tollway – a 500K SF class A office building (proposed)
• Destination Drive A – a 500K SF class A office building (proposed)
• The Tower at Hall Park | 6605 Warren Parkway – a 496K SF class A office building
• Legacy West Office Tower | NEC Windrose Avenue – a 450K SF class A office building (proposed)
• Parkside III in Legacy Drive – a 440K SF class A office building (proposed)
• Granite Park Six | 5525 Granite Parkway – a 422K SF class A office building
VITAL STATS
• Two Legacy West | 7950 Legacy Drive – a 414K SF class A office building (proposed)
• Ryan Tower | 8101 Windrose Avenue – a 409K SF class A office building
• TCC Legacy | 6200 Legacy Drive – a 406K SF class A office building (proposed)
• Legacy Union Three | Legacy Circle – a 328K SF class A office building (proposed)
• 6301 Headquarters | 6301 Headquarters Drive – a 304K SF class A office building (proposed)
• The Star | Phase IV | 17 Cowboys Way – a 299K SF class A office building
• Platinum Tower | 6899 Dallas Parkway – a 275K SF class A office building (proposed)
• International Business | 6275 W Plano Parkway – a 240K SF class A office building
• Southstone Yards | NEC Spring Creek Parkway & State Highway 121 – a 235K SF class A office building (proposed)
• Fourteen555 – South Building | 14545 N Dallas Parkway – a 239K SF class A office building (proposed)
• President George Bush Highway & N Dallas Tollway – a 200K SF class A office building (proposed)
• Plaza at Legacy II | 5465 Legacy Drive – a 200K SF class A office building (proposed)
• IBP 19 – W Plano Parkway – a 187K SF class A office building (proposed)
• North Dallas Parkway and McCandless Way –a 150K SF class A office building (proposed)
• Austin Ranch South | 5001 Plano Parkway – a 150K SF class A office building (proposed)
• The Enclave in Frisco | 6600 TX-121 – a 120K SF class A office building (proposed)
LARGE EXISTING VACANCIES
• 5400 Legacy Drive – 1,587,458 SF
• CALWest – 1,071,344 SF
• The Campus at Legacy – 500,864 SF
• 6100 Legacy Drive – Reata Pharmaceuticals – 327,396 SF • 5600
FORT WORTH CBD
VITAL STATS
CURRENT EVENTS
TOP LEASE TRANSACTIONS
• Dickies has signed a 68,136 SF lease at 500 Taylor Street.
• An undisclosed tenant has signed a 9,806 SF lease at 100 Throckmorton Street.
• Parker PLLC Attorneys at Law has signed a 5,476 SF lease at 420 Throckmorton Street.
DEALS IN THE MARKET
• 307 W 7th Street – a 283,618 SF class B office building
• 210 E 8th Street – a 31K SF class B office building
• 1009 Henderson Street – a 3.6K SF Class B office building
LARGE EXISTING VACANCIES
• 801 Cherry Street | Burnett Plaza –237,209 SF class A vacancy
• 777 Main Street | 77 Main – a 173,603 SF class A vacancy
• 307 W 7th Street | The Star-Telegram Building – a 117,295 SF class B vacancy
• 301 Commerce Street | Bank of America Tower – a 111,714 SF class A vacancy
• 210 E 7th Street | Binyon-O’Keefe Building – a 82,226 SF class B vacancy
• 500 W 7th Street | First on 7th – a 81,165 SF class B vacancy
Bluelofts Inc. has acquired the Oil & Gas Building in downtown Fort Worth, with plans to transform the historic building into an upscale mixed-use development. The Oil & Gas Building is located on West 7th Street and has been for sale since 2020. Bluelofts has been targeting a project in downtown Fort Worth for years with the intention of capitalizing on the area’s relatively low unit count. Dallas-based Bluelofts specializes in the adaptive reuse of historic office buildings. The firm has five ongoing projects in several states, representing over 1,000 units. One of those projects is the former AT&T building in downtown Cleveland, Ohio, which Bluelofts is adapting into a trendy community of live-work apartments. Bluelofts Inc. is headed by co-founders Ike Bams and John Williams. The duo first got the inspiration for the reuse of office buildings when the Renaissance Tower in Dallas went on the market. The building had a lot of vacancies at the time, Bams said and wasn’t driving interest. The firm specializes in the adaptation of historic buildings that are prominent in a given city. Fort Worth stood out because there isn’t a lot of residential development in the downtown area compared to the number of hospitality developments. “We wanted to bring more housing for young professionals and also bring more life into that last pocket because this building is one of the last buildings that hasn’t been converted,” Bams said. “Most of the historic properties in downtown Fort Worth have been converted into hotels or condos.” The firm is aiming to get permits submitted by the end of Q1 or early Q2, with construction starting by the middle of the year. The project should have doors open within 24 months of construction kicking off. Upon completion, the building will feature 180 units of luxury multifamily. Amenities will include a community gym and club, co-working space and restaurant and retail on the first floor. The building totals 166K SF across 16 stories. There are opportunities for similar projects like this in Fort Worth, Williams said, but available parking is a limiting factor.
Apparel giant Dickies is getting a new global headquarters, according to a report from the Fort Worth Star-Telegram. The home-grown firm is moving into The Tower complex in downtown after decades of operations on West Vickery Boulevard. Dickies will lease about 75K SF at its new digs, the Star-Telegram reported. The century-old workwear retail brand will make the move in mid-2023 into the top floor of the six-story building at 500 Taylor Street, which is the parking garage and retail/office building next to The Tower condominium high-rise. The company plans to spend $2.5 million to renovate the space. “We’re thrilled to share that Dickies will be moving into our new global headquarters in downtown Fort Worth in 2023,” Lance Meller, Dickies’ global brand president, told the Fort Worth Star-Telegram. Dickies started in Fort Worth about 100 years ago. Williamson-Dickie, a family-owned company, was acquired in 2017 by North Carolina-based apparel manufacturer VF Corp., which also owns the brand’s Vans, North Face and Timberland. VF paid $820 million in cash for the company.
CURRENT EVENTS
Wells Fargo plans to break ground next month on its new Irving office campus. The regional office center in Las Colinas is planned at the north end of Lake Carolyn near the corner of Las Colinas Boulevard and Promenade Parkway. The California-based banking giant plans to house more than 3,000 workers in the new building by the time they open in 2025.
Common Desk plans to open a 44K SF location at 400 East Las Colinas Boulevard. The co-working company filed plans to renovate what amounts to about half of Canal Centre, a 10-story office building constructed in 1983 and renovated in 2021. The renovations are estimated to cost $4.7 million, or almost $107 per square foot, according to the filing.
LAS COLINAS
TOP LEASE TRANSACTIONS
• Clarke Holdings Investments signed a 34K SF lease at Prologis Freeport Corporate Center, 710 Gateway Boulevard in Coppell. Transwestern Commercial Services represented the landlord, Prologis.
DEALS IN THE MARKET
• Colliers marketed for sale One Panorama Center. The 208,450 SF building is 71% leased.
• Newmark marketed for sale Two Colinas Crossing. The 181,072 SF building is 86% leased.
• Colliers marketed for sale Regent ll Office Center. The 76,400 SF building is 49% leased.
• Colliers marketed for sale 5001 Stateman Drive. The 93,632 SF building is 100% leased.
• Newmark marketed for sale UBS Freeport Portfolio. The 518,897 SF is 78% leased.
• Cushman & Wakefield marketed for sale Corporate Point at Las Colinas. The 223,498 SF building is 100% leased.
• Cushman & Wakefield marketed for sale 4200 Regent. The 164,375 SF building is 36% leased.
NEW DEVELOPMENTS
• Project Blue Star – a 2M SF class A office park (proposed)
• Freeport Commons – a 1.2M SF class A office park (proposed)
• 750 W John Carpenter Freeway | Phase II – a 330K SF class A office building (proposed)
• 3300 Olympus – a 300K SF class A office building
• 9650 Locke Street – a 279K SF class A office building (proposed)
• Royal Tower – a 275K SF class A office building (proposed)
• 9100 Cypress Waters Boulevard | Building D – a 250K SF class A office building (proposed)
• Mercer Business Park – a 200K SF class A office building (proposed)
• Las Colinas Corporate Center III –a 200K SF class A office building (proposed)
LARGE EXISTING VACANCIES
• Exxon Mobil HQ – 553K SF
6000 Connection – 292K SF
• Horizon Way Business Park – 287K SF
• 8900 Freeport Parkway – 268K SF
• One MacArthur Ridge – 250K SF
• Regent Commons – 215K SF
• Intellicenter Dallas – 201K SF
• Browning Place III – 171K SF
• Freepoint 9 Office Center – 153K SF
• Las Colinas Commons – 152K SF
• 6031 Connection Drive – 139K
• Las Colinas Corporate Center I – 137K
LBJ
VITAL STATS
CURRENT EVENTS
TOP LEASE TRANSACTIONS
• Dallas-based law firm Haynes and Boone signed a 11K SF lease in Pinnacle Tower off LBJ in Farmers Branch.
DEALS IN THE MARKET
• JLL marketed for sale of Park Central 7, 8, & 9. The 845,919 SF campus is 78% leased.
NEW DEVELOPMENTS
• Park Heritage I & II – a 1.2M SF class A office park (proposed)
• Four Lincoln Centre – a 400K SF class A office building (proposed)
• Park Tower at Dallas Midtown – a 377K SF class A office building (proposed)
• The Inwood at Alpha West – a 330K SF class A office building (proposed)
LARGE EXISTING VACANCIES
• 7171 Forest Lane – 180K SF
• Park Central 8 – 173,744 SF
• One Lincoln Centre – 100,501 SF
• Pinnacle Tower – 98,412 SF
• Northpoint Plaza II – 92,694 SF
• Three Galleria Tower – 89,208 SF
Global tax services firm Ryan renewed its lease for just over 170K SF of office space at the Three Galleria Tower in north Dallas, which has long served as its headquarters. This location will continue to house hundreds of the firm’s workers until 2024, when the company plans to move into new headquarters “Ryan Tower” in Plano. The 409K SF office space in the heart of Legacy West is projected to deliver in 3Q 2024. Fort Worth-based TPG Inc. has purchased The Towers at Park Central, a nearly 850K SF office complex located at LBJ Freeway and North Central Expressway. The property is almost 70% leased and was purchased from a California investor that has owned the buildings since 2014.
CURRENT EVENTS
Dallas-Fort Worth is the fastest growing metro in the U.S. and the expansion isn’t stopping anytime soon, real estate experts say. The Metroplex is already home to 7.8 million people, but by 2045 that number could increase by 3.4 million people. Migration from cities on the East and West coasts will continue to be a major source of population increase. While DFW is still smaller than major metros New York City and Los Angeles, it surpassed both cities in percentage of jobs added. The Metroplex saw 6.5% job growth in the year ending in October, while LA and New York saw 4.3%, according to JLL’s latest DFW Resiliency report. Meanwhile, DFW had the greatest industry diversity compared to Texas’ other major cities. The diversity of job sectors helps the DFW economy maintain its strength and withstand declines in select industries. More than 20% of DFW’s employment came from trade, transportation and utilities, and more than 18% came from professional and business services. Other major job sectors include education and health services, government, leisure and hospitality and financial activities. Beating out New York and Los Angeles, DFW has led the nation in sales from real estate investments bought and sold since 2020. The Metroplex generated sales volume of more than $43 billion from Q3 2021 to Q4 2022. DFW also has the largest industrial development pipeline across the nation due to greater need for industrial space. The Metroplex has more than 62M SF of industrial space under development. While economists have predicted a looming recession, DFW is positioned to weather the storm well and recover quicker thanks to consistent job growth, wide range of employment industries and proven resiliency in past downturns. During previous economic declines, the Metroplex recovered quicker than major cities like New York, Austin and Houston. A Houston investor has snapped up an Arlington office tower. The Brookhollow Riverside office building is on State Highway 360 between Interstate 30 and Airport Freeway. Built in 1984, the almost 120K SF building was sold by Arlingtonbased SkyWalker Property Partners. The building was acquired by a company headed by Howard Heald of Silver Creek Realty Advisors LLC.Brookhollow Riverside is about 90% leased. SkyWalker Property had owned the building since 2006.“We were fond of that asset,” SkyWalker’s Willian Welder said in a statement. “But it was the right time to sell. “In spite of general headwinds facing office properties, there is still strong demand for quality multi-tenant assets with a good amount of term remaining on leases, as was the case with Brookhollow Riverside.”Tom Strohbehn and Scott Farber of Younger Partners brokered the sale. SkyWalker Property also sold a Far North Dallas office complex. Crescent Parc is a 61-unit, almost 6-acre medical and office condominium campus at 1400 N. Coit Road. The seller invested in the project starting in 2021 when it completed construction on the more than 64,000-square-foot offices. Joe Martinez and Tonya La Barbera of Legacy Commercial Realty brokered the sale.
MID-CITIES
TOP LEASE TRANSACTIONS
• Cawley Management, LLC has signed a 17,597 SF lease at 3120 Sabre Drive.
• An Undisclosed tenant has signed a 15,177 SF lease at 401 E Palace Parkway.
• An Undisclosed tenant has signed a 13,013 SF lease at 601 State Street.
DEALS IN THE MARKET
• 2225 E Randol Mill Road – a 87,411 SF Class B office building
• 3301 Airport Freeway – a 69,595 SF Class B office building
• 350 Westpark Way – a 58,079 SF class B office building
• 3400 William D. Tate Avenue – a 56,520 SF class B office building
NEW DEVELOPMENTS
• 601 State Street – a 160K SF class A office building
• 2710 E Lamar Boulevard – a 61.5K SF class A office building
• 2101 West Park Court – a 60K SF class A medical office building
LARGE EXISTING VACANCIES
• 4333 Amon Carter Boulevard – a 730,806 SF class A vacancy
• 4255 Amon Carter Boulevard – a 547,384 SF class A vacancy
• 1900 W Kirkwood Boulevard – a 379,898 SF class A vacancy
• 3120 Sabre Drive – a 204,052 SF class A vacancy
• 950 E State Highway 114 – a 144,227 SF class B vacancy
NORTH FORT WORTH
VITAL STATS
CURRENT EVENTS
TOP LEASE TRANSACTIONS
• City of Fort Worth Aviation Department has signed a 6,149 SF lease in 201 American Concourse.
• Hillwood Development Corporation has signed a 4,478 SF lease in 2301 Eagle Parkway.
• Perla Realty Group, LLC has signed a 3,733 SF lease in 222 W Exchange Avenue.
DEALS IN THE MARKET
• 201 N Rupert Street – a 57,087 SF class A office building
• 12600 Willow Springs Road – a 54,000 SF class A office building
• 3851 NE Loop 820 – a 19,606 SF class B office building
• 3800 N Tarrant Parkway – a 19K SF Class B medical office building
• 3848 N Tarrant Parkway – a 16,470 SF Class B medical office building
NEW DEVELOPMENTS
• 9810 Hillwood Parkway – a 135K SF class A office building
• Golden Triangle and Alta Vista Road –a 57K SF class B office building
• Alta Vista Rd & N Beach Street – a 48K SF class A medical office building
• 13227 Old Denton Road – a 15K SF class B office building
• 1242 FM 407 Road – a 10,157 SF class B office building
LARGE EXISTING VACANCIES
• 13650 Heritage Parkway – 164,333 SF Class A vacancy
• 5555 N Beach Street – 668,392 SF Class B vacancy
• 2601 Meacham Boulevard – 53,236 SF Class A vacancy • 14600 Heritage Parkway – 50,000 SF Class B vacancy
Panther Island got another boost in its continuing life cycle as Fort Worth and other partners awarded HR&A Advisors Inc. a $560,000 contract to lead the way in determining future plans for the project’s economic development angle. The city’s economic development director Robert Sturns praised the firm for its expertise and market knowledge as it considers different strategies for developing Panther Island and surrounding districts. “The pieces are really coming together for Panther Island,” Sturns said in a press release. “Local partners and the business community are making a strong economic development push at the district, but we want to be smart about how we do it.” Panther Island is a mixed-use development that includes “an envisioned 10,000 housing units and three million square feet of commercial, retail, and educational space,” a canal system, walking trails, a marina, and a houseboat district. Other local entities involved in the Panther Island project include Tarrant County, the Tarrant Regional Water District, Tarrant County College, the Real Estate Council of Greater Fort Worth, Downtown Fort Worth Inc., and Streams & Valleys. The flood control portion of the project is known as Central City, which includes a bypass channel and valley storage sites for excess water. A year ago, the U.S. Army Corps of Engineers promised $400 million in funding to “complete final design of all project components and construction of the bypass channel.”In 2019, a third-party evaluation by Riveron estimated the overall costs of the project to reach $1.2 billion, over $600 million more than when it was first proposed in 2006. The report also cited myriad problems within the project’s financial management, governance, and transparency and recommended significant changes.
Formerly home to the regional headquarters of TD Ameritrade, this single-story, 140K SF building is now available for another large user. It features an 8 per 1,000 parking ratio and is located at 4600 Alliance Gateway Freeway within AllianceTexas. This new vacancy will create one of the most ideal landing spots for future Fort Worth corporate relocations.
CURRENT EVENTS
The owners of one of the largest retail blocks in North Dallas’ Preston Center district want to add office and apartment buildings into the mix. Ramrock is looking to build 265K SF of office space and 180 units of multifamily and 30K SF of retail in The Preston Center Pavilion on Westchester Drive south of Northwest Highway.
PRESTON CENTER
TOP LEASE TRANSACTIONS
• Conti Capital signed a 22K SF lease in 8343 Douglas Avenue.
NEW DEVELOPMENTS
• 8111 Douglas – a 318K SF class A office building
LARGE EXISTING VACANCIES
• 5950 Sherry Lane – 27,948 SF
• 8333 Douglas Avenue – 26,746 SF
• Sherry Lane Place – 24,284 SF
• 8343 Douglas Center – 21,246 SF
• Sterling Plaza - 20,187 SF
RICHARDSON/PLANO/ALLEN/MCKINNEY
VITAL STATS
CURRENT EVENTS
Generational Capital Markets, a Dallas-based advisory firm focused on services related to mergers and acquisitions, recently signed a 33K SF sublease for space on the second floor of 3400 at CityLine in Richardson. The deal increases Generational Capital Markets’ existing footprint at the five-story building, which was constructed in 2017.
TOP LEASE TRANSACTIONS
• LIFE Association signed a 4.2K SF renewal in Central Five Hundred
DEALS IN THE MARKET
• JLL marketed for sale 3400 CityLine. The 313K SF building is 80% leased.
• Colliers marketed for sale Collins Square. The 228,400 Sf building is 72% leased.
• Newmark marketed for sale APEX. The 186,244 Sf building is 100% leased.
NEW DEVELOPMENTS
• State Highway 121 & N Central Expressway (formerly Monarch City) - a 5M SF class A office park (proposed)
• Heritage Creekside Towers – a 1.2M SF class A office park (proposed)
• Palisades Central | 2426 N Central Expressway – a 1M SF class A office complex (proposed)
• Beacon Square – a 800K SF class A office building (proposed)
• The Campus at CityLine – a 600K SF class A office complex (proposed)
• 3661 N Plano – a 533K SF class A office building (proposed)
• 3661 N Plano – a 508K SF class A office building (proposed)
• Legacy Central 5 – a 300K SF class A office building (proposed)
• One Bethany North - a 300K SF class A office building (proposed)
• District 121-East – a 300K SF class A office building (proposed)
• One Heritage Creekside – a 250K SF class A office building (proposed)
• One Bethany Central – a 250K SF class A office building (proposed)
LARGE EXISTING VACANCIES
• 2200 E President George Bush - 176,831 SF
• Lookout Park I – 262,546 SF
• Galatyn Commons – 215,394 SF
• Lakeside Tower – 203,817 SF
• 3400 CityLine – 189,676 SF
• Lookout Park II – 106,327 SF
• Richardson Commons – 156K SF
• 17787 Waterview Parkway – 142,954 SF
• Fossil Headquarters – 135,180 SF
• Galatyn Commons D – 133,184 SF
• Waterview 190 North & South – 232,025 SF
• Lakeside Centre II – 115,583 SF
• District 121-West - 120,470
CURRENT EVENTS
Tryba Architects is developing the master plan for Clearfork’s Trailhead district, a riverfront neighborhood centered on retail, health, fitness and outdoor recreation. From its vast network of bike trails to its beloved farmers’ market and Press Café, Clearfork is a celebration of Texas culture, nature, sustainability and landscape. The district sets a new vision for development at Clearfork that both complements the existing mixed-use context and provides a unique and meaningful experience for tenants, residents and visitors connected to the agricultural heritage of the river’s edge. A future-focused urban community in a tranquil river environment. A new gateway bridging urban and natural, past and future.
Right next to 5600 Clearfork Main (above), Cassco Development Co. has plans to build a six-story, 170,588 SF office building. To be located in southwest Fort Worth within The Shops at Clearfork development, the project would include average floorplates of 28,431 SF. JLL is marketing the proposed project. Another office building is being planned within The Shops at Clearfork. Cassco Development Co. and partners Simon Property Group (NYSE: SPG) have proposed this five-story, 136,840 SF building, which would be located at 5155 Marathon Avenue. Irving-based KOA Partners has proposed this three-story, 75K SF office building along Altamesa Boulevard in southwest Fort Worth. The property, being marketed by KOA Partners, could be perfect for an office or medical office user.
SOUTHWEST FORT WORTH
TOP LEASE TRANSACTIONS
• Cooks Children’s Healthcare has signed a 30,084 SF lease at 685 John B Sias Memorial Parkway.
• An undisclosed tenant has signed a 11,867 SF lease at 1320 Hemphill Street.
• Providence Title has signed a 3,780 SF sublease at 2150 W 7th Street.
DEALS IN THE MARKET
• 3509 Hulen Street – 27,766 SF Class B office building
• 108 South Freeway – 41, 427 SF Class B office building
• 133 Nursery Lane – 20,260 SF Class B office building
NEW DEVELOPMENTS
• 6844 Harris – 41,217 SF Class B office building
• 465 S Main Street – 13,503 SF Class B office
• 6101 Southwest Boulevard – 15,000 SF Class B office building
LARGE EXISTING VACANCIES
• 405 W Loop 820 – 101,043 SF class B vacancy
• 6000 Western Place – 94,703 SF class B vacancy
• One Ridgmar Center – 86,561 SF class A vacancy
• 6100 Western Place – 86,243 SF class B vacancy
STEMMONS
NEW DEVELOPMENTS
• West Love | 2345 Mockingbird Lane – a 600K SF class A office building (proposed)
• East Love | 2345 Mockingbird Lane – a 250K SF class A office building (proposed)
• The Design District Tower – a 243,100 SF class A office building (proposed)
• 2122 W Mockingbird Lane – a 158K SF class A office building
• 6500 Harry Hines Boulevard – a 155K class A office building (proposed)
• 2221 W Mockingbird Lane – a 150K SF class A office building (proposed)
• River Edge – a 142K SF class A building
• 1333 Oak Lawn Avenue – a 123K SF class A office building
• 111 Glass Street – a 30K SF class B office building (proposed)
• 122 Glass Street – a 20K SF class B building
LARGE EXISTING VACANCIES
• 2525 N Stemmons Freeway – 101,178 SF
• Comerica Service Center – 142,600 SF
• Pegasus Park – 133,477 SF
• The Connection at 8600 – 101,530 SF
• 8777 N Stemmons - Tower II – 76,968 SF
CURRENT EVENTS
One of the largest office tower complexes in Dallas’ medical district near Love Field was put up for sale in September. The two (2) buildings, 12-story Mockingbird Towers are at 1341 West Mockingbird Lane. Builtin the 1970s, the nearly 450K SF high-rise project has been substantially renovated with almost $11 million in upgrades since 2015.
CURRENT EVENTS
The sale of the high-rise McKinney & Olive project fetched more than $700 per square foot — almost $400 million in total investment - which set a new price point for properties in the area just north of downtown.
Harwood No. 2, a 176,383 SF Class A building in Uptown, developed by Harwood International, is now 100% leased with recent lease transactions. Winstead PC expanded on their existing space and now occupies nearly 150K SF in the building. Alongside the Winstead expansion, Dallas-based Canyon Partners renewed their lease on the second floor of the building. Harwood International is currently building Harwood No. 14 which is nearly 70% leased with law firm Haynes and Boone as a key tenant.
Texas Capital Bank has secured naming rights to 2000 McKinney Avenue, a 448K SF Class AA building in Uptown. The bank, which has been a tenant in the building since 2008, signed a 15-year lease extension and expansion for more than 200K SF and will rename the building to the Texas Capital Center. Construction on the expansion is expected to take place through 2024.
Phaidon International has signed a 26K SF lease in The Centrum at 3102 Oak Lawn Avenue in Dallas. The Centrum features a 15K SF courtyard, 10 stories of office space and eight stories of condominium space. The move comes following Phaidons’ rapid growth within the DFW market.
UPTOWN
TOP LEASE TRANSACTIONS
• Texas Capital Bank signed a 200K SF extension and expansion in 2000 McKinney Avenue.
• Winstead PC signed a 150K SF extension and expansion in Harwood No. 2.
• McGuire Woods signed a 33K SF lease at The Link at Uptown.
• Phaidon International signed a 26.7K SF lease in The Centrum.
• KBC Advisors signed a 10K SF lease at Harwood 4 at 2828 North Harwood Street in Dallas.
DEALS IN THE MARKET
• Newmark marketed for sale the Link at Uptown. The 291,986 SF building is 85% leased.
NEW DEVELOPMENTS
• Goldman Sachs - a 950K SF class A office building
• 2401 McKinney – a 712K SF class A office building (proposed)
• 23Springs | 2323 Cedar Spxc wa a 591K SF class A office building
• Harwood XII - 541K SF class A office building (proposed)
• Parkside Uptown | 1919 Woodall Rodgers Freeway – a 450K office building (proposed)
• Harwood XII – a 542K SF office building (proposed)
• Victory Center | 2371 Victory Avenue –a 466K SF office building (proposed)
• Harwood No. 14 – a 360K SF office building
• The Quad | 2699 Howell Street – a 345K SF class A office building
• 2850 Lemmon – a 280K SF class A office building (proposed)
• 2626 McKinney Avenue - a 181K SF class A office building
• Maple Terrace | 3001 Maple Avenue – a 135K SF class A office building
• McKinney & Lemmon – a 78K SF office building (proposed)
LARGE EXISTING VACANCIES
• Victory Commons One – 300,049 SF
• One Victory Park – 302,030 SF
• 2801 N Central – 240K SF
• Parkside Tower – 111,728 SF
• 2501 Cedar Springs – 110,415 SF