Colliers Wins 1.4 MSF Galleria Office Towers Lease Assignment

By Camelia Bulea, Associate Editor The high-profile Galleria Office Towers on the LBJ Freeway have a new marketing and leasing representative. As of July 30, a leasing team from Colliers International’s Dallas office was awarded the leasing assignment for the three-building complex, which totals 1.4 million square feet of office space. The office property has [...]

The high-profile Galleria Office Towers on the LBJ Freeway have a new marketing and leasing representative. As of July 30, a leasing team from Colliers International’s Dallas office was awarded the leasing assignment for the three-building complex, which totals 1.4 million square feet of office space. The office property has a current occupancy of 85 percent.

According to the Dallas Business Journal, the Colliers leasing team is led by David Quisenberry, executive vice president, and will include Michael Carmichael and Chris Lipscomb.

Los Angeles-based Cannon Commercial has owned the Galleria Office Towers since May 2008, when it acquired the complex from New York-based Fortis Property Group for more than $300 million, according to D Magazine. Cannon Commercial also owns 7515 Greenville and Toll Hill Office Park in Dallas, and well as a number of assets in Houston and San Antonio.

The buildings – which represent one of the largest office spaces in suburban Dallas – were constructed between 1982 and 1991, according to the property’s Web site. The towers offer skyline visibility, and access to DFW International Airport, Addison Airport and Love Field. They are connected to the Westin Hotel and the Galleria Mall.

Meanwhile, Hudson Advisors, a global investment firm owned by Lone Star Funds, has decided to keep its headquarters at The Tower at Cityplace in Dallas. The Dallas-based investor re-signed its lease for 110,652-square-feet of space because of the property’s amenities, which include a conference center, Larry North Fitness, a food court, a cafeteria and DART access, according to the Dallas Business Journal.

The 42-story, 1.2 million-square-foot property is about 86 percent occupied, but has a large vacancy on floors 30 to 33 of 120,000 square feet of office space.

Chart courtesy of www.cbre.us