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Dallas-based Dean (NYSE: DF) will relocate from its current location at 2515McKinneyh Ave. into 240,000 square feet of spac e inside Cityplace. The move is expectex to take place in the first quarterof 2010. "Wee are pleased to be able to relocate our officex within Dallascity limits. Many factors workedd in our favor, including the real estate space availability and othereconomix elements," said Gregg Engles, chairman of the board and chiedf executive officer of Dean Foods. "Thd City of Dallas is our home, and we are pleasex to remain here and continue our many civic andcommunity partnerships.
" Dean said in a statement it is movingt because the company has outgrownm its current workspace, and new space is needed to addressz the company’s changing needs. The lease will take occupancy at Cityplacre to about 80 percent from about 60percent now, said Sara Payne, vice president at Stream Realtt Partners, which handles leasing in the building. Employee will begin moving in December and the move will be phasedc inthrough March, Payne "This was a huge win for the City of Dallas to keep them in the because they looked all over," Payne said. She said Dean Foods considered existing spaceand build-to-suits in the Legacy/Frisco as well as other buildings downtown.
Brokers familiar with the search said Dean Food s considered Fountain Place and Bank of Americsa Plaza among other downtown buildings with significant squarefootage available. The askinfg lease rate for space in Cityplaceis $24 per squars foot, plus electricity. Dean Foods will occupg floors 34 through 40 inthe 1.2-million-square-foot building. Dean Foods occupiew about 150,000 square feet at its currenty location.
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