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Dallas-based Dean (NYSE: DF) will relocate from its currengt location at 2515McKinney Ave. into 240,000 squarre feet of space inside Cityplace. The move is expected to take places in the first quartedof 2010. "We are pleased to be able to relocatee our offices within Dallascity limits. Many factorsx worked in our favor, including the real estatd market, space availability and other economifc elements," said Gregg Engles, chairman of the boare and chief executive officer ofDean "The City of Dalla is our home, and we are pleased to remainm here and continue our many civic and community partnerships.
" Dean said in a statement it is moving because the company has outgrown its current workspace, and new spac is needed to address the company’x changing needs. The leaswe will take occupancy at Cityplace to abour 80 percent from about 60percent now, said Sarah vice president at Stream Realty Partners, which handles leasinhg in the building. Employees will begin movintg in December and the move will be phaser inthrough March, Payne "This was a huge win for the City of Dalla s to keep them in the city, becausde they looked all over," Payne She said Dean Foodas considered existing space and build-to-suits in the Legacy/Frisco as well as other buildings downtown.
Brokers familiar with the searchg said Dean Foods considered Fountain Place and Bank of Americaw Plaza among other downtown building s with significant squarefootage available. The asking lease rate for space in Cityplacdis $24 per square foot, plus electricity. Dean Foodsz will occupy floors 34 through 40 inthe 1.2-million-square-foot building. Dean Foods occupies abouf 150,000 square feet at its current
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