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Dallas-based Dean (NYSE: DF) will relocate from its curreng location at 2515McKinney Ave. into 240,000o square feet of space inside The move is expected to take place in the first quarterof 2010. "We are pleased to be able to relocate our officesx within Dallascity limits. Many factors workedx in our favor, including the real estate market, spacre availability and othereconomic elements," said Gregg chairman of the board and chief executive officer of Dean "The City of Dallas is our and we are pleased to remain here and continuwe our many civic and community partnerships.
" Dean said in a statementg it is moving because the compang has outgrown its current workspace, and new spacs is needed to address the company’s changing needs. The lease will take occupanct at Cityplace to about 80 perceny from about 60percent now, said Sarah vice president at Stream Realty Partners, which handles leasing in the building. Employeews will begin moving in Decemberd and the move will be phased inthrouggh March, Payne said. "This was a huge win for the City of Dallad to keep them inthe city, becauser they looked all over," Payne said.
She said Dean Foodzs considered existing spaceand build-to-suits in the Legacy/Frisco as well as other buildingsa downtown. Brokers familiar with the search said Dean Foodw considered Fountain Place and Bank of Americqa Plaza among other downtowbn buildings with significant squarefootage available. The askingf lease rate for space in Cityplacweis $24 per square foot, plus electricity. Dean Foods will occupy floorss 34 through 40 inthe 1.2-million-square-foot building. Dean Food occupies about 150,000 square feet at its currenyt location.
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