With Move and Hiring, DMS Retains Confidence Amid Slowdown

PLANO, TX—Digital Matrix Systems is relocating its corporate headquarters to Preston Park Towers West in a move that will include 70 employees previously housed in an Addison office. The company leased 22,500 square feet, the entire seventh floor of the West Tower at 4975 Preston Park Blvd., and the majority of DMS’ employees will be housed at the new location.

“There’s a ton of energy and excitement right now among our employees,” said Jeff Miller, chief financial officer of DMS. “We’re all thrilled about the new space and everyone feels like their voice was heard. As recruiting tech talent becomes a more competitive process, we’re incredibly proud that we have an average employee tenure of nine years at DMS. This first-class space puts us in a prime location to continue to hire and retain top-tier talent in North Texas.”

DMS made the decision to move from its current location to ensure that the space reflected its evolving company culture. The company put its employees at the center of the decision-making process, working with different business units and forming an employee committee to understand employees’ specific wishes and needs for a new workplace. As a risk management solution provider that helps clients leverage data to make better-informed business decisions, DMS used that skillset to identify the new space.

“The way that DMS handled the real estate process is a fantastic testament to how they run their business,” said Mike Cleary, senior vice president of CBRE. “They understood that they needed to start early, do their due diligence, and really engage and listen to their employees. That process helped them to find the perfect space for their company.”

The result of DMS’ due diligence and attention to detail offers several upgraded conveniences and amenities for its workforce. By picking a central location that is accessible from both the Dallas Tollway and the George Bush Turnpike, 80% of DMS’ employees will have a shortened commute.

Employees will also have free covered parking, on-site dining and access to the building’s fitness center. In addition, DMS will receive exterior building signage.

The new space provides flexibility for future growth and a location that will help to recruit tech talent. DMS is demonstrating confidence within a changing business climate and hiring for three new positions.

“The space does allow for expansion and is being designed with employee collaboration in mind, to include huddle rooms and a variety of spaces for employees to meet throughout the office,” Kim Eakin, director of marketing at Digital Matrix Systems, tells GlobeSt.com. “It will be a very employee-centric design and incorporates input from stakeholders throughout the organization. As a team, we’re quite excited and will be looking forward to move day.”

Perkins and Will has been selected as the architect that will incorporate DMS’ company culture and brand into this new headquarters. DMS expects to occupy the space by the end of 2020.

Preston Park Towers has two class-A office properties totaling 367,500 rentable square feet.  Located at 4965 and 4975 Preston Park Blvd. in far North Dallas, the project is in the sought-after Upper Tollway/West Plano submarket. Preston Park Towers has an on-site deli, fitness center, two conference centers and a tenant lounge. In addition, the property is within walking distance to retail and restaurant options including Preston Shepard Place and Preston Park Village, and minutes from The Shops at Willow Bend.

Cleary, Mike Kay and Campbell Puckett with CBRE in Dallas represented DMS in site selection and lease negotiations while Campbell Henry and Chris Axley with Lincoln Property Company in Dallas represented the owner, TerraCap.

Lincoln Property Company has signed 103,784 square feet of leases at Preston Park Towers within the past 12 months. TerraCap Management LLC, a Florida-based privately held investment firm, acquired the buildings in March 2019. A total of 27 leases totaling 104,000 square feet were signed since Lincoln Property Company took over leasing and management following the acquisition. Two of the leases, Digital Matrix Systems and Juno Consulting, were signed within the past two months.

Pre-COVID-19, DFW maintained robust job growth by adding 119,000 non-farm jobs from January 2019 to January 2020, a 3.2% annualized gain, according to the Bureau of Labor Statistics.

Following a record 2019, net absorption for first quarter 2020 was down to start the year with -150,751 square feet of net demand for the quarter, according to CBRE. Vacancy increased by 40 basis points primarily due to the direct relationship with vacancy and absorption and the 250,000 square feet of competitive inventory introduced to the DFW market that is scheduled to be occupied in second quarter 2020, says CBRE.