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allas-based Merit Energy is relocating its headquarters to the Two Lincoln Centre complex on Lyndon B. Johnson Freeway. The energy firm will occupy 104,034 square feet of office space across the 10th through 12th floors of the 19-story property. Nuveen Real Estate is leasing the space, with Cushman & Wakefield representing both parties in the deal.

    Merit Energy, one of the largest private oil and gas operators in the US, currently resides at Galleria North Tower II on Noel Road, roughly a mile and a half from its new location. To accommodate Merit's move, three existing tenants were relocated and had their leases renegotiated.

    The Lincoln Centre complex has undergone significant renovations, including updates to office building interiors and outdoor spaces for tenants. The site also features amenities such as Ascension Coffee, a food hall, and a park. Despite these efforts, the Dallas-Fort Worth office market remains challenging, with vacancy rates at 24.7% and over 14 million square feet of occupied space lost since 2019.

    Merit's move comes amidst a broader shift in the office landscape, as companies reassess their workspace needs. Amazon has delayed its return to office mandate, raising questions about the future of commercial real estate. As the market continues to evolve, some are exploring alternative uses for vacant office spaces, such as residential conversions.