City Office REIT, Inc. announced on December 18, 2024, that it has signed a 60,000 square foot lease with an existing tenant at its Terraces property in Dallas, Texas. This lease extends the tenant's current 44,000 square foot space until 2036 and includes an expansion of 16,000 square feet.
Following this expansion, which is expected to commence in early 2026, the Terraces property is now 95% leased. This demonstrates the company's ability to retain tenants and secure long-term commitments in its Dallas market.
Additionally, the company reported the recent commencement of a 29,000 square foot tenant at Bloc 83 in Raleigh, North Carolina. This new occupancy has brought the office component of Bloc 83 to a 98% occupancy rate, highlighting strong leasing momentum in the Raleigh market.
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