Irving-based McKesson adds to D-FW sublease office glut

Irving-based McKesson adds to D-FW sublease office glut

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Irving-based McKesson Corp. is joining the list of North Texas businesses hoping to off load excess office space with a sublease.

The international drug and medical products distributor has hired commercial property firm CBRE Group to rent out more than 270,000 square feet of its Las Colinas headquarters complex, according to real estate data provider CoStar.

McKesson relocated its head offices from California to Irving in 2019. The company has more than 1,500 workers in North Texas at its two-building campus on Carpenter Freeway at State Highway 161.

McKesson officials earlier this year said they planned to trim the company’s office footprint.

During the last couple of months McKesson has filed plans for more than $20 million in renovations to the larger of its two buildings in Las Colinas. The work involves more than 90,000 square feet in the building at 6555 S.H. 161, according to planning documents filed with the state.

Architect Gensler is handling the work which includes upgrades to a cafe, addition of meeting spaces and a conferencing center, new finishes in the lobby and new workstations on the top floor, the information provided the Texas Department of Licensing & Regulation says.

The renovations would allow McKesson to consolidate some operations in the building.

McKesson acquired the buildings in 2016.

The block of sublease McKesson office space is one of the largest available in Las Colinas.

And it adds to the almost 11 million square feet of sublease offices up for grabs in the Dallas-Fort Worth area.

The largest of the sublease offices on the market in North Texas include the new Reata Pharmaceutical tower in Plano and space in the Epic development in Dallas’ Deep Ellum district.

The explosion of D-FW sublease offices – space companies are paying rent on but no longer want to occupy – has pushed overall vacancy in the area to a record of almost 27%.

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