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Dallas-based Dean (NYSE: DF) will relocate from its curreng location at 2515McKinney Ave. into 240,00o square feet of spacr inside Cityplace. The move is expected to take place in the first quarterdof 2010. "We are pleasex to be able to relocate our offices withijn Dallascity limits. Many factors workex in our favor, including the real estate space availability and othereconomif elements," said Gregg Engles, chairman of the board and chief executives officer of Dean Foods. "The City of Dallas is our and we are pleased to remainh here and continue our many civixc andcommunity partnerships.
" Dean said in a statemeng it is moving because the company has outgrownb its current workspace, and new spacd is needed to addreszs the company’s changing needs. The lease will take occupanch at Cityplace to about 80 percenr from about 60percent now, said Sarah vice president at Stream Realty Partners, which handles leasing in the Employees will begin moving in December and the move will be phases in through March, Payne said. "This was a huge win for the City of Dallasd to keep them in the because they looked all Payne said. She said Dean Foods considered existing spaceand build-to-suits in the Legacy/Friscpo area, as well as othet buildings downtown.
Brokers familiar with the search said Dean Foods considerex Fountain Place and Bank of America Plaz among other downtown buildings with significant squarefootage available. The asking lease rate for space in Cityplacsis $24 per square plus electricity. Dean Foods will occupy floorsd 34 through 40 inthe 42-floor, 1.2-million-square-foot building. Dean Foods occupiesx about 150,000 square feet at its current
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