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Dallas

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Leasing Activity

Las Colinas

  • The Embassy signed FAA to a new 60 month deal.  

  • Avail Medical Products signed a new 29,126 s.f. deal at 7700 Bent Branch Drive over 89 months.

North Central Expressway

  • Mockingbird Station signed Creative Mark to a new 11,400 s.f. deal for 90 months.  

  • TRX Technology Services expanded and renewed for 22,503 s.f. over 63 months at 7557 Rambler.

  • Lifetime Fitness signed at Premier Place for 120 months.

Far North Dallas 

  • Granite Park Three signed two leases this quarter:

    • Invensys signed a new lease for 45,414 s.f. for 120 months.

    • Invincis Systems signed a new deal for 45,000 s.f. for 120 months.

  • Lincoln Center II signed Gensler to a new 32,500 s.f. lease.

  • Broadlane expanded by 24,950 s.f. at Galleria North Two for 53 months. 

  • Granite Park One expanded United Healthcare for 21,400 s.f. for 67 months. 

  • T-System renewed and expanded at Lincoln Center II for 84 months. 

  • TAX Ease signed a new lease at 14901 Quorum. 

CBD

  • Prudential signed a new 63,496 s.f. lease at 2100 Ross for 105 months.

  • Sidley Austin signed at KPMG Centre for 36,196 s.f. for a term of 126 months.

  • Allegro Development renewed 32,040 s.f. at Fountain Place for 124 months.

  • Renaissance Tower renewed Neiman Marcus for 30,255 s.f. for 84 months.

  • The Tower Club of Dallas renewed 28,512 s.f. at Thanksgiving Tower for 123 months.

Richardson/Plano

  • Health Dialog Services Corp. signed a new deal at 1130 East Arapaho for 63 months.

  • 1501 Plano Road signed Mellon Financial to a new 31,104 s.f. deal over 120 months.

  • Xterra Communications renewed at Allen Tech Center for 84 months.

Uptown/Oak Lawn

  • Rosewood Court signed Cogent Partners (15,439 s.f.) for 120 months.

Building Sales

Several building sales of note

  • CommonFund For Nonprofit Organizations purchased 3100 Monticello (174,315 s.f., Class B) for an approximate $184/s.f. from Koll Bren Advisors.

  • Hines purchased the downtown trophy JP Morgan Chase Tower (1,296,943 s.f., Class AA) from Stream Realty for $224/s.f.

Contracts Pending

  • L&B Realty Advisors has Search Plaza (154,767 s.f., Class B) under contract from Equastone for an approximate $90/s.f.

Construction Activity

  • Duke has broken ground on the 212 acres (“The Lesley Tract”) on the NW corner of I635 and Beltline Road.  The mixed use project consists of office (1.0 million s.f.), industrial (2.0 million s.f.), retail (15 acres) and hotel (7 acres), with the spec development of one office and one industrial building. Duke will eventually sell off the retail component. 

  • Hillwood has three more office projects under construction, or proposed to add to their very successful mixed-use Victory development:

    • One Victory Park (445,117 s.f.) is currently under construction with a planned completion date of July 2008 and is currently 90 percent pre-leased.  Major tenants signed are Haynes and Boone (174,000 s.f.) and Ernst & Young (142,000 s.f.).

    • Two Victory Park is a proposed project and is scheduled to be 445,117 s.f.  Hillwood is currently seeking tenants for pre-leasing to begin construction.

    • Victory Tower is in the pre-construction stage with a planned 244,000 s.f. of office, 90 residential units and 120 hotel rooms. 

  • Construction continues on Lincoln’s 2000 McKinney project (444,000 s.f., Class A) which has an expected delivery date of September 2008.  The building is now 34 percent pre-leased.  The major tenant is Texas Capital Bancshares (94,940 s.f.).

  • Prime Income has announced plans for Centura Tower II (410,814 s.f., Class A) on the lower Tollway in Far North Dallas. 

  • Rosewood’s construction of Rosewood Court I (407,928 s.f.) in Uptown is on track for a completion date of May 2008.  The building is currently 54 percent pre-leased.  The major tenant is HBK Investments (63,156 s.f.).

  • Granite Properties recently purchased two acres in Uptown, proposing a 320,000 s.f. office building with 150 condominium units planned for the top of the development.

  • Fortis has announced plans for Galleria IV (288,000 s.f., Class AA) along the lower tollway and I-635.

  • In the CBD, One Arts Plaza, (266,466 s.f., Class A) is near completion, with the first tenants now occupying the building.  Plans are now in place for Two Arts Plaza (445, 625 s.f., Class A), with construction beginning in late 2007 with the signing of a lead tenant. 

  • Harwood International’s Saint Ann Court, between The Crescent and Victory, is now 46 percent pre-leased with an April 2009 completion date. 

  • Citigroup is planning to enlarge their campus card processing facility of 225,000 s.f., located near the intersection of Royal Lane and Las Colinas Blvd., by another 130,000 s.f. for data storage and a child care facility of 30,000 s.f.

  • Transwestern has started the site planning and completed the development plan of its tract of land north of LBJ Freeway and west of Beltline Road.  Construction is underway on a
    111,934 s.f. building.

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