Balfour Beatty Relocates US Headquarters to Dallas High-Rise

Balfour Beatty is trading in its longtime Uptown digs for a fresh perch in one of Dallas’ most amenity-rich office hubs.

The construction giant signed a lease for 35,139 square feet at One Victory Park, relocating its U.S. headquarters to the 17-story high-rise at 2323 Victory Avenue. The move shifts the firm’s base of operations a few blocks west into the heart of Victory Park, a district that has increasingly lured corporate tenants with its dense mix of office, residential and entertainment offerings.

The Dallas Business Journal reported that the new space will serve as a hub for Balfour Beatty’s North Texas operations and support teams, according to the company. A timeline for the move hasn’t been disclosed.

The firm previously maintained its U.S. headquarters at 3100 McKinnon Street in Dallas. The firm renewed its lease there in 2019 but had already trimmed its stake from five floors to two floors. That building is now poised for a broader transformation, after a recent acquisition by KBC Advisors and an investor group with plans for a mixed-use redevelopment.

Balfour Beatty’s move provides another example of the continued flight to quality within Dallas’ office market, as tenants gravitate toward newer buildings with built-in amenities and proximity to housing and entertainment, according to the outlet. One Victory Park, a 435,000-square-foot tower owned by Clarion Partners, fits squarely into that trend, with a 10,000-square-foot food hall, Victory Social, and a tenant roster that includes HF Sinclair, PlainsCapital Bank and Ernst & Young.

Victory Park itself has evolved into a live-work-play area, with more than 200,000 square feet of retail, thousands of residential units and anchors like the American Airlines Center, a mix that has become a key selling point in the competition for talent, according to the publication.

Those attributes align with Balfour Beatty’s long-term outlook in North Texas, where it remains one of the region’s largest general contractors, generating more than $675 million in local revenue last year. The firm has had a hand in shaping much of the Dallas skyline, according to the outlet, with projects including the Residences at Park District and developments along Knox Street.

— Eric Weilbacher