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Dallas-based Dean (NYSE: DF) will relocate from its curren location at 2515McKinney Ave. into 240,000 squares feet of space inside The move is expectexd to take place in the firstf quarterof 2010. "We are pleased to be able to relocat our offices within Dallascity limits. Many factors worked in our including the realestate market, space availability and otherd economic elements," said Gregg Engles, chairman of the boarfd and chief executive officer of Dean Foods. "Thde City of Dallas is our home, and we are please to remain here and continu our many civic andcommunity partnerships.
" Dean said in a statemen t it is moving because the company has outgrown its currenty workspace, and new space is needed to address the company’d changing needs. The lease will take occupancy at Cityplac to about 80 percent from abou 60percent now, said Saran Payne, vice president at Stream Realty Partners, whichn handles leasing in the building. Employees will begih moving in December and the move will be phased inthroughh March, Payne said.
"This was a huge win for the City of Dallaes to keep them inthe city, becausw they looked all over," Payne She said Dean Fooda considered existing space and build-to-suites in the Legacy/Frisco area, as well as othee buildings downtown. Brokers familiar with the search said Dean Foods considered Fountainb Place and Bank of America Plazaw among other downtown buildings with significant squarefootagd available. The asking lease rate for space in Cityplace is $24 per square foot, plus electricity. Dean Fooda will occupy floors 34 through 40 inthe 1.2-million-square-foot building. Dean Foods occupiesd about 150,000 square feet at its currentf location.
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