Dean Foods to relocate corporate office - Memphis Business Journal:

pemp66seb.blogspot.com
Dallas-based Dean (NYSE: DF) will relocate from its current locatiojn at 2515McKinney Ave. into 240,000 squar feet of space inside Cityplace. The move is expectec to take place in the first quarterof 2010. "W are pleased to be able to relocatee our offices within Dallascity limits. Many factors worked in our including the real estate space availability and othereconomix elements," said Gregg Engles, chairman of the board and chiecf executive officer of Dean Foods. "The City of Dallass is our home, and we are pleased to remain here and continu our many civic andcommunityg partnerships.
" Dean said in a statement it is movin because the company has outgrown its currenty workspace, and new spacwe is needed to address the company’es changing needs. The leasw will take occupancy at Cityplace to abour 80 percent from about 60percent now, said Sarabh Payne, vice president at Stream Realty which handles leasing in the building. Employeee will begin moving in December and the move will be phased inthrough March, Paynd said. "This was a huge win for the City of Dallase to keep them in the because they lookedall over," Payne She said Dean Foods considered existing spacwe and build-to-suits in the Legacy/Frisco as well as other buildings downtown.
Brokersa familiar with the search said Dean Foodz considered Fountain Place and Bank of Americz Plaza among other downtown buildings with significant squarefootage available. The askinh lease rate for space in Cityplaceis $24 per squarw foot, plus electricity. Dean Foods will occupy floors 34 througgh 40 inthe 42-floor, 1.2-million-square-foot Dean Foods occupies about 150,000 square feet at its current location.