Law Firm Commits to 37 KSF in Dallas
Global law firm Paul Hastings LLP has signed a 37,000-square-foot long-term lease at Knox Street, a mixed-use development in Dallas. A joint venture of BDT & MSD Partners, Trammell Crow Co., The Retail Connection and Highland Park Village Associates is behind the large-scale project. CBRE worked on behalf of both parties.
The 1 million-square-foot mixed-use development broke ground in late 2023. The project’s 150,000-square-foot office component is now fully preleased two years before its completion.
Upon delivery, the building will comprise seven stories of boutique office space with amenities such as a fitness center with high-end locker rooms, a tenant lounge and a café. The first two floors will include retail and dining options.
Paul Hastings joins anchor tenant ISN Software Corp. at the property that is scheduled to be completed by late 2026. BDT and MSD will also occupy space in the office tower.
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Knox Street will also include The Knox Hotel & Residences, managed by Auberge Resorts Collection, more than 100,000 square feet of retail and restaurants, as well as a 0.5-acre park with a direct connection to the Katy Trail.
The area has been a bright spot for landlords and tenants as the district promotes walkability, cultivates green space and has a highly social atmosphere. It is also a gateway to Highland Park.
CBRE’s Executive Vice President Trey Smith, alongside Senior Vice Presidents Alexandra Cullins and Ben Davis, negotiated the lease on behalf of the ownership. Paul Hastings was represented by Vice Chairmen Clay Hammerstein, Phil Puckett and Ken Rapp, together with Executive Vice President Harlan Davis and Transaction Manager Morgan Griffith, also with CBRE.
Recent office leases in Dallas
Nearby, law firm Walters, Balido & Crain has signed a seven-year lease renewal and expansion at Meadow Park Tower. The firm has been a constant presence in the 262,776-square-foot office building for the past 11 years.
Additionally, law firm Gray Reed signed a long-term commitment at 1845 Woodall Rodgers in Dallas, occupying two floors at the nearly 50,000-square-foot building. The tenant will beginning construction of its new office space next year.
The Dallas office market witnessed a 22.9 percent vacancy rate in September, up 390 basis points over the year, according to a recent CommercialEdge report. The rate was also 3.4 percent higher than the national average.
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