Lockton Companies is the latest major employer to swap downtown for Uptown.
The insurance brokerage leased 100,000 square feet at Victory Commons One, a 15-story office tower at 2601 Victory Avenue developed by Ross Perot Jr.’s Hillwood Urban in 2022, the Dallas Business Journal reported. Cushman & Wakefield’s Mike Mayer and Stream Realty Partners’ Dan Harris and Randy Cooper represented Lockton in the lease. Hillwood’s Bill Brokaw and Karch Schreiner represented the landlord.
Lockton, which has about 400 employees, will exit Pacific Elm Properties’ 2100 Ross Avenue in the Arts District. It is expected to move early next year.
The move is the latest sign of challenges faced by older downtown buildings as tenants seek fresher spaces.
The building at 2100 Ross was constructed in 1982. Other tenants include engineering consultant Netherland Sewell and investment manager Merrill, which each lease at least 40,000 square feet, and Virtus Investment Partners, formerly Allianz, which has at least 10,000 square feet, according to Compstak.
The move is a win for Victory Park, and for Victory Commons One, which caught a 11,000-square-foot Steelcase showroom as a tenant and gained White Rhino Coffee as a retail amenity last year. The tower’s success in leasing underscores the ongoing “flight to quality” trend as companies opt for newer, amenity-rich offices to attract and retain employees.
Victory Commons One sits adjacent to the American Airlines Center and DART’s Victory Station, with nearby access to Interstate 35 and the Dallas North Tollway.
It features a “sky garden,” fitness center, lounge and a 1-acre park. A broader development push in the area is underway, with Hillwood also developing a $500 million Goldman Sachs campus nearby, set to open in 2027.
Uptown, the center of gravity for the burgeoning Y’all Street, is quickly becoming the trendy neighborhood for corporate relocations. For example, law firm Munck Wilson Mandala moved its headquarters from North Dallas to Uptown in January, leasing 41,200 square feet in the Texas Capital Center, and Wingstop moved to Uptown from Addison, occupying 112,000 square feet last year.
— Judah Duke
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