DFW OFFICE Facts & Figures

Dallas Cbd

Current Events

The 60-story Comerica Bank Tower at 1717 Main Street is owned by a partnership headed by Dallasbased TriGate Capital. Now, Dallas Woods Capital is taking a large stake in the property alongside TriGate. Woods Capital affiliate Pacific Elm Properties will work with TriGate to add residential and hotel rooms to the office tower.

A nationwide construction company is the latest firm to land in downtown Dallas’ East Quarter development. Californiabased Swinerton Inc. is locating its Dallas operations in the 2200 Main building on the eastern edge of downtown. The construction company is taking a floor in the five-story building which was built in 1930. The 2200 Main address originally housed an automotive dealership. And in the 1940s, the brick Main Street building was the headquarters for aircraft maker Chance-Vought. Insurer Blue Cross and Blue Shield once had offices there, too. The building was acquired in 2018 as part of developer Todd Interests’ 20-acre East Quarter development located between Dallas’ old financial district and Deep Ellum.

Ray Washburne’s Charter Holdings has purchased the landmark Founders Square building on Griffin Street near the Kay Bailey Hutchison Convention Center. Built in 1915 as an office and warehouse for the Higginbotham-BaileyLogan Co. dry goods company, the building was converted into office space in 1984.

HN Capital recently purchased a prime development site in Dallas’ Design District on Hi Line Dr. The Dallas-based company who owns more than a dozen properties in the Design District acquired the block, which fronts Trinity Strand Trail.

Top Lease Transactions

• Arcadis signed a 17K SF lease at 300 Pearl in Downtown Dallas.

• Corgan expanded its lease at The Luminary by 17K SF to a total footprint of 98K SF.

• Jackson Walker expanded its lease to 17.8K SF at KPMG Plaza at 2323 Ross Avenue in Dallas.

Deals In The Market

• JLL is marketing for sale Landmark Center. The 131,320 SF building is 17% leased.

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)

• One Newpark | 806 S Akard Street – 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

• Energy Plaza | 1601 Bryan Street – 400,000 SF

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

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

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

• Chase Tower | 2200 Ross Avenue – 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

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

• Radiance Plaza | 1301 Young Street – 107,463 SF

Central Expressway

Top Lease Transactions

• Common Desk signed a 23k SF lease at The Hill. The mixed-use development is located on the northeast corner of U.S. Highway 75 and Walnut Hill Lane.

Deals In The Market

• JLL is marketing Mockingbird Station for sale. The 192,979 SF building is 76.2% leased.

• CBRE is marketing 8750 NCX for sale. The 509,818 SF building is 70.9% leased.

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 – a 352K SF class A office tower (proposed)

• The Ivy – a 265K SF class A office tower (proposed)

• The Tower at Preston Hollow Village – a 260K SF class A office tower (proposed)

Large Existing Vacancies

• Cityplace Tower – 283,489 SF

• 8750 NorthPark Central - 143,926 SF

• 8080 NCX – 133,793 SF

• Walnut Glen Tower – 101,392 SF

• One Lincoln Park – 91,477 SF

• Energy Square 1 – 85,868 SF

Current Events

McCarthy Building Cos. has moved into a new regional headquarters from Dallas to the CityLine development at 3400 N Central Expressway in Richardson.

Far North Dallas

Current Events

PDI Technologies renewed its 44.6K SF lease at International Plaza III, a 354K SF office tower in Dallas. The building, located at 14241 Dallas Parkway, is currently undergoing a major redevelopment that will include a new lobby, a conference center, a fitness studio, a café and hospitality areas. The renovations are expected to be completed by the second quarter of this year, according to the property’s website.

Out of more than 7M SF of offices being built in North Texas, a Frisco project stands out. It’s not the largest building. It’s not the tallest. But it is the only speculative office being built out of wood in Dallas-Fort Worth. The construction industry calls it “mass timber,” and it’s the latest trend in commercial real estate.

Developer Crow Holdings’ Southstone Yards office project on State Highway 121 is the first and largest mass timber office building going up in North Texas. The seven-story, 242K SF office is the initial phase of a 45-acre mixeduse development.

Children’s Health is growing its Collin County footprint with the purchase of a Plano office campus. The Dallas-based pediatric medical provider, which already has a major presence in Plano and Prosper, has acquired Dr Pepper’s former campus in Legacy business park.

One of Plano’s newest office addresses is already getting an upgrade. The 14-story Apex at Legacy building was completed in 2021 near the northeast corner of the Dallas North Tollway and Headquarters Drive. The building is across the tollway from the $3 billion Legacy West development. Before the first lease in the property was signed, it was acquired by a partnership of New York-based Monarch Alternative Capital and Tourmaline Capital Partners. Renovations to the first building have concentrated on the shared tenant areas, including the fitness center, tenant lounge and outdoor terrace.

A Dallas North Tollway tower is getting a major facelift to attract and retain office tenants.

The 13-story International Plaza III building was built in 2001 as the third and final building in the office campus just north of Spring Valley Road. Since 2021, the building has been owned by a partnership that includes Boston-based State Street Corp. and M-M Properties.

New owners of one of Addison’s largest office campuses are planning a major overall of the 1980s high-rise buildings. Spectrum Center, the 12-story, more than 600K SF office complex, was purchased by a joint venture of Acram Group and New York-based Oak Hill Advisors. The partnership purchased the property for $114.3 million and are now planning to spend $12.5 million on upgrades.

A 204K SF creative office and technology hub is headed for Plano. The four (4) building campus, known as Elevar, is being developed by Alvarez & Marsal Capital Real Estate to accommodate corporate, media, entertainment, technology, and research and development tenants, according to a news release.

Fisher Investments moved its headquarters from Washington state to Plano following a state Supreme Court ruling in Washington that upheld the constitutionality of a capital gains tax, the company confirmed Monday. In a one-paragraph announcement Friday, Fisher Investments said it relocated its corporate headquarters to Texas. The firm clarified in a statement Monday that while the tax decision alone doesn’t affect corporate headquarters, it is moving in what it calls an abundance of caution. It said the company’s new headquarters will be its Plano office at 6500 International Parkway in the International Business Park.

Top Lease Transactions

• Attigo Health renewed and expanded its lease to 13K SF at The Spectrum at 15301 Spectrum Drive in Addison

• NextAfter signed a 4,496 SF expansion at Lincoln Legacy Two.

• Meinhardt & Associates signed a 2.6K SF lease at Wellington Centre.

• Foundation Energy signed a 20.9K SF renewal at Liberty Plaza.

• Meeting Protocol signed a 6.7K SF renewal and 2.9K SF expansion at Tollway Towers North.

• Schultz & Associates signed a 2.5K SF lease at Tollway Towers North.

• Waterside Properties signed a 2.5K SF renewal at Liberty Plaza.

• Serendipity Labs signed a 24K SF lease at One Legacy West tower.

• Lucid Private Offices, formerly known as WorkSuites, has signed a 31K SF lease at International Business Park in Plano.

• Wells Fargo signed an 18K SF lease at The Star in Frisco.

• Global tech firm McAfee signed a 30K SF lease in the high-rise at 17 Cowboys Way.

• Blue Sky Bank signed a 10K SF lease at The Colonnade I at 15301 N Dallas Parkway in Addison.

Deals In The Market

• CBRE is marketing for sale Parkway Plaza I & II. The combined 136,506 SF is 70.8% leased.

• JLL is marketing for sale Bent Tree Green. The 139,609 SF building is 70.9% leased.

New Developments

• The Li nk at Fields Frisco | Legacy Drive & PGA Parkway – a 2M SF class A office complex (proposed)

• IBP 190 | Highway 190 & Midway Road – Building 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

• 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 Headquarters Drive –

Fort Worth Cbd

Vital Stats

Current Events

Top Lease Transactions

• Point Energy Partners has renewed and expanded for 10,201 SF in 640 Taylor Street.

• CrossFirst Bank has signed a 9,806 SF lease at 100 Throckmorton Street.

• Texas Capital Bank has expanded and signed a lease for 2,696 SF at 100 Throckmorton Street.

Deals In The Market

• 307 W 7th St. – a 283,618 SF class B office building.

• 500 W 3rd St – a 234,039 SF class B office building.

• 804-812 W Weatherford St. – a 15,250 SF class B office building.

• 1401 Henderson St. – a 12,776 SF class B medical office building.

Large Existing Vacancies

• 801 Cherry Street | Burnett Plaza – 268,145 SF class A vacancy.

• 777 Main Street | 77 Main – 198,356 SF class A vacancy.

• 307 W 7th Street | The Star-Telegram Building – 139,820 SF class B vacancy.

• 301 Commerce Street | Bank of America Tower – 105,584 SF class A vacancy.

The Texas A&M University System Board of Regents on Thursday almost doubled the construction budget—from $85 million to $150 million—for Phase One of the Texas A&M-Fort Worth urban research campus. Responding to greater-thanexpected demand for space in the Law & Education Building, the Regents authorized approximately 225,000 gross square feet—an estimated nine floors to house programs in law, engineering, business and health sciences, among others. “There is so much opportunity for the Texas A&M System to serve Fort Worth, Tarrant County and all of North Texas, we had to go bigger and taller in the first building,” said Chancellor John Sharp. The Law & Education Building is to be the first of a three-building complex built on four city blocks in southeast downtown as a joint effort with the city of Fort Worth and Tarrant County to spur business growth and economic development. The other two buildings will be a public-private sector project built with city-issued bonds secured by lease payments from the Texas A&M System and private sector companies who want to co-locate with university and agency researchers. The vision is to create a hub of collaboration between key Fort Worth industries and top research, education and workforce training assets of the Texas A&M System. Texas A&M University’s School of Law, which has doubled its enrollment since 2019 to approximately 1,200 students, will occupy about half of the Law & Education Building. The construction will be financed with the Permanent University Fund and other System monies. As part of Thursday’s vote, the Regents authorized $15 million of the $150 million construction budget for design and pre-construction services. As early as May, the Board could be asked to give the final authorization for a groundbreaking.

In other action, the Board approved: $35 million for Phase 1 and $75 million for Phase 2 of the construction of a new dock and infrastructure for an oceangoing training and research ship for the Texas A&M Maritime Academy. The larger dock must be built to provide safe mooring of the vessel in Category II hurricanes. A new bachelor’s degree program in journalism at Texas A&M and authorized the university to seek the approval of the Texas Higher Education Coordinating Board. Increasing the cost of the Engineering Classroom and Research Building at Texas A&M University at Galveston by $6 million to $50,992,125. Early procurement of machinery and materials for Tarleton State University’s $110 million convocation center to address supply chain delays.

A new $15.1 million Nuclear Engineering Education Building that will consolidate research faculty and labs for Texas A&M Engineering Experiment Station in College Station. $6.4 million to construct a Propulsion Test Facility at Texas A&M Engineering Experiment Station’s Turbomachinery Lab Project in College Station.