Amazon expands to 240k sf in Piedmont's Two Galleria Tower

Amazon has renewed its lease on a North Dallas high-rise.

The e-commerce giant signed a five-year renewal at Two Galleria Tower, bolstering the company's longtime presence at 13455 Noel Road and providing a boost to the North Dallas office market, which has faced shifting local trends labor and economic insecurities. Dallas Business Journal reported.

Landlord Piedmont Office Realty Trust said in its second-quarter results that it had leased “over 240,000 square feet through 2030 to an e-commerce retailer in the Dallas Galleria Office Towers,” which would be more than half of 454.00 square meters. building and one of the largest office leases in Dallas this year.

The Seattle-based company previously occupied more than 100,000 square feet in the 13-story building, where it first became a tenant more than a decade ago, choosing the Galleria complex over a last-minute deal at Plano's Legacy West. Since then, the company has expanded its footprint in the tower, starting with over 88,000 square feet in 2014, and then growing it by another 20,000 square feet in 2020. CBRE is leasing in the building.

The company also has grown its workforce in Dallas, adding 600 corporate and technology positions. Its lease in North Dallas contrasts with broader industry trends, where many companies are reassessing their office space needs due to the rise of hybrid work models.

Atlanta-based Piedmont bought the buildings known as the Dallas Galleria Office Towers, including the associated parking lots, for about $400 million in early 2020.

Amazon's ongoing takeover of Two Galleria Tower could affect Beck Ventures' $5 billion in Dallas Midtown, a planned redevelopment of the former Valley View Center mall. That plan, which includes thousands of apartments, plus offices and retail, has been stalled for years.

“Companies like Amazon are recognizing the hub that is this area of ​​Dallas,” said Beck Ventures CEO Scott Beck, noting its location at the intersection of Interstate 635 and North Dallas Street.

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-Andrew Terrell