2025 DFW Market Update & 2024 Year In Review

CLIENT SPOTLIGHT

CLIENT: Santander Consumer USA TYPE: Lease Renewal SIZE: 211,087 SF BUILDING: Santander Tower (1601 Elm Street) SUBMARKET: Central Business District C&W TEAM: Robbie Baty & Travis Boothe

TRANSACTION DETAILS: Santander Consumer USA engaged C&W to determine their optimal footprint in their largest US office considering their newly implemented return-to-work policies. After C&W’s Workplace Strategy team analyzed Santander’s usage of their space, they concluded that Santander needed to reduce their size by approximately 30%. The challenge presented was that Santander still had several years remaining on their existing lease at a larger square footage than they required. C&W evaluated potential relocation options in the market in order to create a competitive environment for Santander’s tenancy, and ultimately was able to successfully negotiate an early downsize and lease extension, which resulted in immediate, significant savings for Santander. The final lease is the largest completed in Downtown Dallas in the past five years.