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EXCO Snaps Up 122,172 SF for HQ Through 2014

DALLAS-EXCO Resources, with three years to burn, inks a market-rate deal for two more floors at Lakeside Square. Younan says the activity he's seen means it's time to buy more.

By Connie Gore | Updated on July 02, 2008

DALLAS-Long-time tenant EXCO Resources Inc. has bumped its headquarters lease to 122,172 sf at Lakeside Square, tacking six years onto the term and taking an extra two floors. The oil and gas company, now the high rise’s largest tenant, struck the new deal with three years left on the term.

The story behind the story, though, is EXCO’s lease reflects the state of the Dallas market, Houston too, says Zaya Younan, chairman and CEO of Los Angeles-based Younan Properties Inc. The deal pushes Younan’s 404,324-sf Lakeside Square at 12377 Merit Dr. to 85% occupancy with additional expansions and brand-new pacts making their way across goal lines. “We feel this building will reach higher occupancy in a very short period of time,” he says.

Younan tells GlobeSt.com that EXCO’s 47,500-sf expansion and extension took a couple months to fine-tune, but the end result fast-forwarded the term through 2014. The oil and gas company will control floors 11 through 14 in the 16-story building, where the quoted rate is $20 per sf plus electric.

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