Five-Building Sublease, Largest Local Block, Hits The DFW Market
The largest contiguous block of office space hit the growing Dallas-Fort Worth sublease market this week.
Thryv Holdings announced plans to sublease 449K SF across five buildings of its longtime office campus at 220 West Airfield Drive at DFW Airport.
The five-building site serves as Thryv's headquarters and offers potential subtenants a fully furnished asset with a 1,000-space parking lot.
The headquarters was constructed as a build-to-suit office hub for Braniff International Airways. One of the main office buildings has three floors with 49K SF floor plates, while a second office facility offers three floors, a cafeteria, a central plant and a data center.
A third building on the site includes a 77K SF hotel and conference center along with a fitness center. The two remaining office buildings come with auditoriums, traditional offices and training facilities.
Thryv's listing is the largest sublease opportunity of 2020, according to CoStar Group data. The size of the listing, 449K SF, stands out even in a year where available sublease space has grown by 2.9M SF, reaching 9.2M SF, or 11% of all space available, CoStar's Paul Hendershot said Friday.
“To put this in perspective, that is nearly the equivalent of the total space available in the Dallas Central Business District. If there is a silver lining, the amount of new sublease coming on the market has appeared to slow since the end of the third quarter,” he added.
Younger Partners Corporate Services Director Bob Acuff is pitching the sublease to the market as a plug-and-play opportunity for a tenant who needs immediate space for a corporate-type campus. Younger Partners broker Tanja McAleavey is assisting Acuff in the search for a new subtenant.
“All five buildings have been well maintained by Thryv’s Facility Management team and are in move-in ready condition right now,” Acuff said in a statement.
“This opportunity is perfect for a large corporate user looking for a low-cost plug-and-play campus setting,” Acuff added. “The floorplates are also easy to demise for smaller users, as well, starting at 5,000 square feet.”
The available sublease term will run through December 2025.