Accounting powerhouse CohnReznick is moving its Dallas-area office to The Star in Frisco.
The firm secured a 12,000-square-foot lease at 6635 Cowboys Way, situated directly across the street from the Cowboys’ headquarters and practice facility, the Dallas Business Journal reported.
CohnReznick, which serves as “the official accounting partner” for The Dallas Cowboys, will relocate from its location at the Tollway Center, at 14675 Dallas Parkway in Addison. That building was developed by Cawley Partners and USAA in 2015 and sold in 2018.
CohnReznick wanted to provide more amenities to its 75 Dallas-based employees, which is on trend with corporate tenants who wish to make commuting to the office more attractive in the face of remote-work trends. Construction on the office space is set to begin in September, with a move-in date targeted for January.
The lease followed an extensive search involving over 15 potential sites throughout North Dallas, Plano and Frisco. The Star’s combination of office space, retail and entertainment options made it an ideal fit for CohnReznick’s needs, said Michael Barber, co-managing partner of the Dallas office.
It will enable CohnReznick to increase its local workforce by 25 to 30 percent, potentially adding 20 positions, and the New York-based firm could expand further. It has about 200 employees in Texas
“We want to expand locally and then use that for our extended continued growth in Texas as well,” Barber said.
In 2022, the firm acquired Dallas-based advisory BKM Sowan Horan, which increased CohnReznick’s presence and headcount in Dallas and Austin.
Dallas-Fort Worth office market conditions indicate it is adapting to hybrid work trends, according to Colliers. The vacancy rate ticked up to 21 percent in the second quarter, which shows leasing could be hitting a plateau. In the Far North Dallas submarket, where Colliers places Frisco, vacancy hit 24 percent in the second quarter, and absorption was negative, with 419,000 more square feet vacated than was leased.
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— Andrew Terrell