Commercial Real Estate

Meet the Finalists: The Top Office Leases of 2020

Deals include AT&T Services; Bell Textron; Haynes and Boone; Heritage Auctions, Oncor, and Peloton.

On April 28D CEO will reveal the winners of its 2021 Commercial Real Estate Awards program. Leading up to the big event, we’re featuring all 83 finalists (51 projects and deals and 32 professionals), one category at a time. Today, we’re sharing information about the project in the Best Office Lease category. 

AT&T Services 

Key Players: Tim Terrell and Chase Lopez with Stream Realty Partners; and Matt Heidelbaugh with Cushman & Wakefield

Along with the massive investments into its new global headquarters in downtown Dallas, AT&T opted to retain its Lakeside Campus lease at 2270 Lakeside Boulevard in Richardson. AT&T was convinced to stay put in the 203,239 square foot facility in the subdivision, despite closing several other locations due to their relationship with building management and its prime location to the headquarters and other local hubs.  

Bell Textron 

Key Players: Duane Henley and Nathan Durham with Transwestern

Bell Textron increased its office lease in Dallas to keep up with its growing operations in the area. They signed a long-term lease for an entire 109,187-square-foot building in Fort Worth, which previously held the American Airlines Federal Credit Union. The four-story building, to be called the Bell Commercial Business Center, will house around 600 employees. The building will house several departments for Bell Textron, including global sales, customer support, information technology, and human resources.  

Haynes and Boone

Key Players: Andy Leatherman, Brooke Armstrong, and Brad Selner with JLL; and John Lee, Hannah Waidmann, and Kelly Whaley with Harwood International

The future site of the tallest tower in the 19-city block Harwood District named its first tenant, longtime Dallas-based law firm Haynes and Boone. The firm has leased 125,000 square feet at Harwood No. 14 with plans to relocate in the fourth quarter of 2023. The 27-story office tower recently broke ground. “This lease reflects our optimism in Haynes and Boone’s continued growth and that of the City of Dallas,” said Tim Powers, managing partner, Haynes and Boone. “Our new Dallas office will allow us to continue to attract and retain top talent and deliver first-class legal services to our valued clients, with a design that focuses on maximizing efficiency and the rapidly evolving needs of an office environment.”

Heritage Auctions 

Key Players: Mark Hayes with HPI Real Estate Services; and Nora Hogan, Robert Deptula, and Jordan Wade with Transwestern

Heritage Auctions moved its global headquarters to a new industrial campus adjacent to Dallas Fort Worth International Airport. The 160,000 square foot facility is more than double the size of the company’s previous Dallas headquarters and consolidates their three Dallas-based offices into one. Nearly 450 of Heritage Auctions 600 employees will be based out of the new offices. The move represents the company’s biggest expansion since its founding in 1976. The new headquarters will be complete with an 8,000 square-foot showroom for the firm to host exhibits of their best items and other events.  

Oncor 

Key Players: Whit Kelly and Dallas Margeson with Transwestern

Oncor relocated 600 employees from their former Fort Worth headquarters to 777 Main Street, Fort Worth’s third tallest building. The company took nearly 200,000 square feet in what was the 2nd largest office deal of 2020. The new building will allow Oncor to better keep up with their expanding customer base, now reaching over 10 million Texans. Before the move, Oncor was based on their old headquarters (115 West 7th Street) for over 30 years. “While the Electric Service Building has served us well for more than 30 years, Oncor’s continued growth and business needs require a larger, more efficient workspace that will better support our current and future employees. We look forward to moving into the new location and continuing our commitment to Fort Worth and the 10 million Texans we serve across our service territory,” said Oncor spokesperson Kerri Dunn.

Peloton 

Key Players: Baron Aldrine and Michael Conner with CBRE; and Duane Henley and Nathan Durham with Transwestern

Just two years after the fitness company leased 27,518 square feet of office space at Legacy Central in Plano, they expanded, leasing an additional 103,750 square feet at the 85-acre industrial campus. It represents one of the largest office leases in Dallas-Fort Worth. It will bring over 1,600 jobs to the area over the next five years, reinforcing Peloton’s commitment to the region as an operational hub. Peloton first leased office space in Plano in 2018 with help from CBRE Labor Analytics. CBRE assisted the company again in the expansion after analyzing factors such as population growth and education levels.  

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