**Lockheed Martin Renews 455,000-Square-Foot Office Lease at Fossil Creek Business Park**
Lockheed Martin Corporation has renewed its lease for a 455,000-square-foot office space at Fossil Creek Business Park, located at 5555 N. Beach Street in Fort Worth, Texas. The deal, brokered by JLL’s Todd Burnette, is being hailed as the largest office lease in the Dallas-Fort Worth (DFW) area in the past decade.
The lease renewal extends through August 2031 and supports approximately 1,800 employees. These employees are primarily involved in supply chain operations, aircraft sustainment programs, and advanced development programs.
Low office vacancy rates in downtown Fort Worth—currently around 13.2%—have led many companies, including Lockheed Martin, to maintain their existing footprints due to the scarcity of suitable alternative spaces.
Lockheed Martin plays a major role in Fort Worth’s aerospace industry, where it assembles the F-35 Lightning II fighter jets. The company recently secured a $24 billion contract to manufacture nearly 300 additional F-35 aircraft for the U.S. military and its allied forces. As of mid-2024, Lockheed Martin employed approximately 19,200 people in the Fort Worth area.
Market data through the third quarter of the year indicates that Fort Worth experienced 195,650 square feet of positive absorption in Class A office space, whereas older office buildings saw a negative absorption of 521,763 square feet.
This significant lease renewal underscores both Lockheed Martin’s continued investment in the region and the resilience of the Class A office market in Fort Worth.
