2 weeks Ago
DALLAS — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here . Another law firm plans to pack up in downtown Dallas and head to nearby Uptown.
Houston-based Gray Reed & McGraw LLP recently signed a lease for nearly 50,000 square feet at 1845 Woodall Rodgers Fwy., adjacent to Klyde Warren Park. The firm currently has its Dallas office in the 50-story Santander Tower.
Gray Reed intends to make the move in early 2026. Building owner Woodbine Commercial just announced the law firm's lease for more than two floors. Alexis Martinez oversaw leasing efforts on behalf of Woodbine and First United Bank, which acquired the 17-story building in 2019.
Shortly after, the landlords shortly renovated the lobby as well as office spaces for their respective firms within the tower. Woodbine and First Unite occupy about 40,000 square feet in total in 1845 Woodall Rodgers, which was built in 1984 and spans more than 150,000 square feet. Tenants include Advancial Credit Union and law firm O'Neil Wysocki.
In a statement, Martinez touted the building’s location, which is at the cusp of downtown and Uptown and just a few steps away from the 5-acre Klyde Warren Park. He said he looks forward to welcoming Gray Reed to the building and worked closely with the firm to ensure the space aligns with their long-term needs. "While this deal would be significant in any cycle or season, we are very encouraged to see it during a period of more modest growth for our industry," he said in a statement.
John Beach and Jay Magness with Newmark represented Gray Reed. The office market faces significant headwinds, including recent trends toward shorter and more flexible leases. Construction has also slowed.
Last quarter, no major office buildings broke ground in DFW, according to a report from JLL. That hasn't happened in the past decade. The slowdown could actually benefit building owners, as a lack of new inventory in the coming years should increase competition for older office spaces.
Yet office leases are still being signed — and a lot of the dealmakers are law firms, with many planning to move to Uptown. Fisher Phillips has moved into The Crescent from Lincoln Plaza in downtown and Greenberg Traurig is set to leave the Dallas Arts Tower in 2026 for an Uptown high-rise. Gray Reed, formerly Looper Reed & McGraw, plans to begin construction on its office space likely sometime after July 2025.
An estimated 150 employees are expected to move into the space once complete. Gray Reed is a full-service firm with many practice areas. Examples of recent cases it's been involved with include representing restaurant chain Buca di Beppo in Chapter 11 bankruptcy.
The building also plans to feature the firm’s name with signage on the top floor as part of renovations. Construction is expected to be complete by February or March of 2026. Darrell Armer, Gray Reed’s managing partner in Dallas, said in a statement that the firm’s move "represents a significant investment" in its future.
"After an extensive search for the ideal location, 1845 Woodall Rodgers emerged as the clear choice,” Armer said. "The quality of the building and the location are reflective of our firm's continued growth, commitment to redefining professional services for mid-sized law firms, and provision of exceptional service to our clients.".
