Dallas-based Merit Energy is moving its headquarters to a taller tower in the northern part of the city.
The energy firm will occupy 104,034 square feet of office space at Two Lincoln Centre, 5420 Lyndon B. Johnson Freeway. Merit will take the 10th through 12th floors at the 19-story property. Investor firm Nuveen Real Estate is leasing the space.
Cushman & Wakefield’s Matt Schendle, Zach Bean and Mary Frances Burnette represented Nuveen, while Jeff Ellerman and John Ellerman represented Merit Energy.
Merit Energy, one of the largest private oil and gas operators in the United States, is currently located at the 13-story Galleria North Tower II on Noel Road. It’s roughly a mile and a half from the new office space.
To get Merit Energy to Two Lincoln Centre, three tenants were moved and had their leases renegotiated, Cushman & Wakefield said.
The high-profile north Dallas office complex landed a series of major leases in 2023 following millions of dollars in renovations. Updates were complete in fall 2022.
Built starting in 1980, Lincoln Centre’s 15-story, 17-story and 19-story office towers contain 1.6 million square feet connected to a 500-room Hilton hotel.
Renovations included a revamp of the office building interiors and several outdoor spaces for tenants. The hotel was renovated to include a new junior ballroom, according to previous Dallas Morning News reporting. Other amenities at the site include Ascension Coffee, Lincoln Centre Wine Market, concierge services, a food hall and a park.
As of the end of September, more than 24 million square feet of office space in Dallas-Fort Worth is occupied, down 14.8 million from the end of 2019. D-FW office vacancy rates are 24.7%, according to data from Cushman & Wakefield.
