Hillwood convinces major employer to depart downtown Dallas
A large independent insurance brokerage has signed a 100,000-square-foot lease at a Victory Park office building in Uptown Dallas.
Lockton, which currently has offices at 2100 Ross Ave. in Dallas’ Arts District, will occupy three floors of Victory Commons One, a 15-story office tower developed by Hillwood Urban.
The building, constructed in partnership with San Antonio-based Affinius Capital LLC, was delivered in early 2022. Affinius says it has about $64 billion in gross assets under management.
Lockton signed the lease in mid-January 2025 and plans to move into its new space by early 2026. The company was represented by Cushman & Wakefield’s Mike Mayer and Stream Realty Partners’ Dan Harris and Randy Cooper. Hillwood Urban Senior Vice President Bill Brokaw and leasing manager Karch Schreiner represented the landlord in the transaction.
Lockton Dunning President and CEO Steve Idoux said in a statement the state-of-the-art building will help meet the client need of being in a “vibrant, accessible neighborhood.” Lockton Dunning is part of Lockton Cos., which employed around 500 in DFW as of October, which ranked No. 79 on Dallas Business Journal’s list of largest employers in the region. The move will shift about 400 in the Dallas office.
The building is right next to the American Airlines Center, home to the Dallas Mavericks and Dallas Stars, as well as DART’s Victory Station rail stop. It also offers relatively easy access to I-35E and the Dallas North Tollway, which is convenient for commuters.
In a statement, Brokaw said Lockton is a “remarkable addition to the growing list of customers” at the high-rise.
“Lockton’s clients and employees will experience top-tier office accommodations, abundant amenities and a vibrant location,” he said.
Other Victory Commons One tenants include Steelcase, an office furniture maker that leased an 11,000-square-feet showroom; White Rhino Coffee, which operates a 2,000-square-foot flagship location; and New York-based IT consulting firm Alcority, which leases the eighth floor.
The building spans 365,000 square feet in total and is now 55% leased. It features a 1-acre landscaped park, a 4,000 square-foot private lounge, a fitness center and a 5,000 square-foot sky garden on the seventh floor.
This is just the first building in a three-phase development planned for Victory Park.
Brokaw added Victory Commons One is “at the epicenter of unprecedented growth” and is bolstered by the forthcoming $500 million Goldman Sachs campus, which is also a development from Hillwood Urban. It’s expected to open in 2027 on North Field Street near Victory Park.
Hillwood Urban, which falls under Ross Perot Jr.’s Hillwood umbrella, is currently designing an office project at the intersection of Woodall-Rodgers and Field Street, which is considered a major gateway to downtown Dallas. It has also partnered with Four Seasons on a luxury hotel and condo complex at 3001 Turtle Creek Boulevard.