Jackson Walker Leases 104 KSF at KPMG Plaza in Dallas Arts District
- Sep 24, 2013
CBRE has been keeping busy this week in Dallas, announcing its role in the completion of a 104,064-square-foot lease on behalf of Jackson Walker L.L.P. in the future Hall Arts office building in the heart of the Dallas Arts District, and in a separate deal, the sale of 100 East Royal, a Class A office asset containing 146,538 square feet in Irving, Texas.
For the latter deal, Jackson Walker will take four floors at 2323 Ross Ave. from landlord Hall Financial Group when the building opens in 2015. The lease keeps the law firm in the Dallas area after spending nearly 30 years in its current 142,000-square-foot space at Bank of America Plaza.
“The new building will allow Jackson Walker to re-brand and position their firm for the next 15 to 30 years,” Phil Puckett, CBRE’s executive vice president in Dallas, said in a company statement. “Their new home is going to be an exciting office environment to work in and will create a new energy and synergy in their law firm.”
KPMG Plaza at Hall Arts is an 18-story office tower with an existing underground parking garage and a Stephan Pyles flagship restaurant on the ground floor. It will offer views of downtown, Uptown and Klyde Warren Park, and have convenient access to public transportation. It is also located near a half-acre landscaped park containing the Texas Sculpture Walk, a collection of contemporary sculpture by the state’s leading artists.
Jeff Ellerman and Phil Puckett of CBRE negotiated on behalf of Jackson Walker, while Kim Butler represented Hall Financial Group.
CBRE also represented Capital Commercial Investments, Inc. in selling 100 East Royal to Westdale Real Estate Investment & Management for an undisclosed amount.
The building includes a three-story, 95,729-square-foot office wing and a two-story, 50,809-square-foot, telecom/studio wing, and is situated on a 15.2-acre site at the corner of Royal Lane and Colwell Boulevard. It is currently 94 percent leased, home to Fox Sports Net Southwest’s studios, AT&T Services, Advancial Federal Credit Union, TWG Insurance and CRM Studios.
“Investors were attracted to this asset due to its favorable Las Colinas location, asset quality, and exceptional roster of long-term, stable tenancy,” Eric Mackey, CBRE’s senior vice president, said. “Notably, 40 percent of the property is leased to publicly traded companies with investment-grade credit.”
Mackey, Gary Carr, John Alvarado and Robert Hill of CBRE arranged the transaction on behalf of the seller.