Q3 office reports out of DFW have real estate folks smiling from ear to ear. CBRE Research reports positive absorption for the 25th consecutive quarter in the Metroplex, which is quite meaningful considering five projects delivered last quarter. Here's a quick look at DFW's brand-spanking-new offices.
McKinney & Olive in Uptown
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McKinney & Olive is perhaps (definitely?) the most talked-about of the five. The 530k SF tower designed by Cesar Pelli delivered at 86% occupied with office tenants such as Cushman & Wakefield and restaurant tenants including Del Frisco's.
Parkview at 1920 McKinney in Uptown
After topping out in February, 1920 McKinney has rebranded as Parkview at 1920 McKinney, referencing its proximity to Klyde Warren Park. The 12-story, 142k SF tower has balconies on every floor, 3:1,000 parking ratios and ground-floor retail and restaurants. It opened at 37% pre-leased. WeWork's on the books as a tenant, but JLL's still tight-lipped about the details.
Alcatel-Lucent Regional HQ in Plano
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Alcatel-Lucent moved into the only build-to-suit project that delivered last quarter. The telecommunications company signed a 12-year lease for its four-story, 250k SF regional HQ in Plano costing $55M.
5600 Clearfork Main in South Fort Worth
5600 Clearfork Main accounts for 171k SF of Class-A office space within Clearfork's 270 master planned acres. The six-story project delivered at 34% pre-leased. Upon completion, Clearfork will have 2M SF of office, 1.2M SF of retail and 2,500 multifamily units.
Tollway Center in the Lower Tollway
Tollway Center delivered with 74% of its 198k SF pre-leased. The fitness center, café, 3.5:1,000 parking ratio and other amenities keep tenants flocking to the recently reinvigorated Lower Tollway submarket.
