Office

The collision of the physical and digital world will likely have a profound impact on what defines a workplace in the near future.

The latest lease agreement with Dallas' largest law firm, Haynes and Boone LLP, will mark the initial lease at Harwood No. 14, which is slated to break ground this winter.

After founding Hines in 1957, Gerald Hines gained notoriety as a visionary in the industry and the firm would go on to be involved in some of the world's most recognizable architectural landmarks.

The extension adds an additional $44 million in gross rent over the lease term.

But this tenant-friendly environment will likely only last for the next 12 to 18 months, says CBRE's Spencer Levy.

"I think that traditional capital markets have much less power than they did before."

The Pacific Business Group on Health surveyed 41 member organizations and found that 57% are waiting until circumstances change before they plan for employees returning to the workplace.

Vertical Ventures LLC recently closed on the acquisition of the three-building office/R&D campus for $45.5 million with plans to invest additional capital for market-ready renovations to currently unoccupied tenant spaces.