Granite Properties Secures Two-Floor Lease in West Plano

Lockton Companies is expanding its precedence in North Texas with a 53,000 square feet lease at a Granite Properties office building in Plano.

The Kansas City, Missouri-based insurance brokerage will occupy two floors in the 19-story Granite Park 6, at 5525 Granite Parkway, the Dallas Business Journal reported.

Lease negotiations were handled by Cushman & Wakefield’s Mike Mayer and Josh Goldsmith, along with Stream Realty Partners’ Dan Harris and Randy Cooper. Granite Properties was represented by its in-house team, including Robert Jimenez, Burson Holman and Elizabeth Fortado.

The tenant, a division of Lockton Dunning, is expected to relocate by the second quarter of 2026. The move will triple its Plano office space; it occupies 18,000 square feet on the fourth floor of the six- story building at 6900 Dallas Parkway.

The Granite Parkway building’s other tenants include Stonebriar Commercial Finance and Atlantic Aviation, the latter of which signed a long-term lease for a 26,600-square-foot headquarters on the building’s 17th floor.

Amenities in the 422,000-square-foot building include a 150-seat lecture hall, a terrace, a fitness studio and a lounge with a golf simulator.

Granite Park 6 was delivered in 2023 and is the tallest building in the Granite Park development, which spans 90 acres in Collin County. The mixed-use development is near the Sam Rayburn Tollway, about a 20-minute drive from Dallas-Fort Worth International Airport.

Lockton, which employs 400 workers locally, has been growing its footprint across DFW.

The company recently leased 100,000 square feet at Victory Commons One, a 15-story office building developed by Ross Perot Jr.’s Hillwood Urban in 2022. The firm will relocate from Dallas’ Arts District, exiting its office in the Pacific Elm Properties-owned 2100 Ross Avenue.

The West Plano office market’s vacancy rate was 27.6 percent in the fourth quarter, according to Avison Young. That’s lower than the 31.8 percent vacancy in downtown Dallas, but West Plano commands higher rents, with an average price per square foot of $42.25 in the fourth quarter, compared to downtown Dallas’ $32.63 and Uptown’s $60.94.

West Plano has the second-highest amount of inventory in the Dallas-Fort Worth Metroplex, after downtown Dallas. About 741,000 square feet of office space was delivered in the submarket last year.

— Andrew Terrell