Biggest deals of 2020: Top office leases in Dallas-Fort Worth

By Ryan Salchert / January 4, 2021 / Dallas Business Journal

Biggest deals of 2020: Top office leases in Dallas-Fort Worth

As we look back on 2020, the Business Journal compiled a list of the top 10 largest office leases that were signed in Dallas-Fort Worth last year.

This list is based off previous reporting and includes nearly 1.7 million square feet of office space. It is worth noting that this list is based off leases that were signed in 2020 — not when companies actually moved into these new spaces. This list also includes lease renewals:

10. Bell – 109,187-SF

At the beginning of December, it was announced that Fort Worth-based Bell, a Textron Inc. (NYSE: TXT) company and aerospace manufacturer, would be moving into a four-story building previously occupied by American Airlines Federal Credit Union. The company’s new address, 4151 Amon Carter Blvd., is part of the larger campus that formerly housed American Airlines’ headquarters. The company’s new space will house 600 employees.

Transwestern’s Duane Henley and Nathan Durham represented the landlord, Austin-based Capital Commercial Investments, while Todd Burnette and Matt Montague with JLL represented Bell Textron in the transaction.

9. The Michaels Cos. Inc. – 123,740-SF

Home goods retailer Michaels is one of two companies on this list to have made a headquarters move within Las Colinas. The Business Journal broke news of Michaels move in July to 3939 W. John Carpenter Freeway, also known as Royal Ridge III. The building had recently been vacated by American Airlines and offered Michaels a plug-and-play opportunity. Michaels new address is less than two miles away from its previous headquarters at 8000 Bent Branch Drive.

JLL’s John Brownlee and Michael Williams represented the landlord while Jamie Jennings of Stream Realty Partners and Damian Rivera of ESRP represented Michaels.

8. Haynes and Boone – 125,000-SF

In August, Harwood International announced plans for its newest office building in Uptown, Harwood No. 14. Anchoring the 27-story, 360,000-square-foot building will be Dallas’s largest law firm Haynes and Boone LLP. The company plans to take 125,000 square feet at the building by late 2023. The company’s current headquarters is at One Victory Park.

Andy Leatherman, Brooke Armstrong, and Brad Selner of JLL represented the tenant while John Lee, Hannah Waidmann and Kelly Whaley of Harwood International represented the landlord.

7. Hilltop Securities – 130,756-SF

Hilltop Securities, a subsidiary of financial holding company Hilltop Holdings (NYSE: HTH), signed a new lease over the summer to relocate its headquarters within downtown Dallas from Renaissance Tower to 717 N. Harwood. The company’s new lease will cover multiple floors.

6. Varsity Brands – 135,888-SF

The largest office renewal in 2020 came courtesy of Varsity Brands, which will keep its headquarters at 14460 Varsity Brands Way in Farmers Branch. The company originally bought the building about three years ago and soon after moved its executive team and more than 800 employees there. The lease was the largest of the second quarter, according to reports from Transwestern and CBRE.

5. Southwestern Health Resources – 150,000-SF

Just before Christmas, Southwestern Health Resources revealed it would be moving its headquarters from Dallas to Farmers Branch. The organization leased about 150,000 square feet at 1601 LBJ Freeway, also known as Browning Place I. About 900 employees will work out of the new headquarters, a spokesperson for Southwestern Health Resoruces said. The move is expected to be made in early 2021.

Southwestern Health was previously headquartered at 8150 Brookriver Drive near the Dallas Medical Center. Transwestern’s Duane Henley represented the landlord in the deal, while JLL’s Paul Whitman represented the tenant.

4. Trinity Industries – 155,185-SF

In April, the Business Journal broke the news that Trinity Industries Inc. (NYSE: TRN) would move its headquarters from 2525 N. Stemmons Freeway to International Plaza II in Far North Dallas. The move is expected to be made in early 2021. The company signed a 16-year lease and will be the anchor tenant at the property.

3. Caliber Home Loans – 159,320-SF

The largest lease of the third quarter came courtesy of Caliber Home Loans, which took nearly 160,000 square feet at 2401 Olympus Blvd. in Cypress Waters. The property was completed earlier in 2020 by Billingsley Co.

2. Oncor Electric Delivery – 200,000-SF

At the beginning of 2020, Dallas-based Oncor Electric Delivery Co. signed a new lease within Fort Worth at 777 Main St. The company will take nearly 200,000 square feet at Fort Worth’s third tallest building and will be moving some 600 employees from its former home at 115 West 7th St., also in downtown Fort Worth.

1. Vistra – 403,150-SF

The largest lease of 2020 was revealed in July when a spokesperson for energy company Vistra (NYSE: VST) confirmed the company’s new lease at a long-vacant office building in Las Colinas. The Fortune 500 company, which is headquartered in Las Colinas, will be taking more than 400,000 square feet at 1925 W. John Carpenter Freeway, the former home of Bank of America. The building will house Vistra’s call center and other operations while its headquarters will remain at 6555 Sierra Drive.