Uber Signs 450,000 SF Lease Within The Epic in Dallas
DALLAS — Uber (NYSE: UBER) has signed a 450,000-square-foot lease within The Epic, a mixed-use development in Dallas.
Uber will move to the second planned 23-story office building, which will total 470,000 square feet, when completed. Westdale Real Estate Investment and Management, the owner and developer of The Epic, plans to break ground in the fourth quarter of this year with delivery slated for the fourth quarter of 2022.
In the meantime, Uber will occupy 168,000 square feet on the ninth to 15th floors of the existing Epic office tower beginning in July 2020. The company plans to move about 700 employees to Dallas in July, then more than 3,000 in 2022. Uber plans to begin tenant improvements and buildout in the new tower in the second quarter of 2022.
This is the second massive lease signing recently for the transportation company. Earlier this week, Uber announced that it signed a 10-year, 463,000-square-foot lease in Chicago’s Old Post Office.
The Epic is located on the eastside of downtown Dallas, adjacent to Deep Ellum. The new tower will complete The Epic, which currently comprises 251,000 square feet of office space, 55,000 square feet of retail and restaurant space, the 164-room Pittman Hotel and the 310-unit The Hamilton apartment complex.
“We are excited that Uber chose The Epic for their continual expansion and growth, as this is not only significant for downtown Dallas and Deep Ellum, but for the Metroplex as well,” says Dennis M. Trimarchi, managing principal at Westdale.
Dennis Barnes, Tommy Nelson and Ben Davis of CBRE represented the landlord in the transaction. Phil Puckett, John Ellerman and Harlan Davis of CBRE represented Uber.
Uber’s stock price closed Tuesday at $35.26 per share, down from $41.57 on May 10, 2019, its first day on the New York Stock Exchange.
— Alex Tostado