Pioneer, AIG Cross Goal Line on 418,000 SF

[IMGCAP(1)]DALLAS-Setting up a double coup in the region, Pioneer Natural Resources Co. and American International Group Inc. have closed unrelated leases sealing off a combined 418,000 sf of class A and trophy space. The tenants’ brokers had spent the better part of 2007 courting the market with the long-term deals.

The skinny is Pioneer Natural Resources renewed 223,000 sf and added 70,000 sf, which is being touted as the largest deal in a decade for Las Colinas. The oil and gas company will remain firmly rooted through 2020 in Williams Square’s West Tower at 5205 O’Connor Blvd. In Downtown Dallas, AIG has inked an 11-year lease for 125,000 sf in Plaza of the Americas’ south tower at 600 N. Pearl St. And, the word is AIG isn’t done dealing.

Dealmakers say Pioneer gets its extra space in spring 2009 and has an option for another 50,000 sf. AIG’s lease goes into effect in January 2009.