DALLAS – Presidium Group LLC is poised to expand and relocate its Uptown headquarters to Citymark on the Katy Trail as the grand finale for a trifecta of class A office leases arranged by Bradford Commercial Real Estate Services to add the prestigious firm as a tenant.
Presidium is moving Aug. 1 into 7,912 sf at 3100 McKinnon St., nearly doubling in size with the relocation. The office tower’s second floor has been reconfigured to multi-tenant space to accommodate the move – a strategy that went into play when its occupant, Hospice Plus, began talks to renew and downsize its regional office. The third transaction required subleasing Presidium’s existing headquarters at 2525 McKinnon St., which is being backfilled by telecommunications firm Zinwave Ltd
“We have been working on this for more than a year. A lot of things had to play out just right because each lease is dependent on the other,” says Richmond Collinsworth, a vice president with Bradford. He and Ed Pachecano, senior vice president and managing partner, negotiated the transactions for the landlord, 3100 McKinnon LP, in the direct deal.
Other dealmakers were Roy Reis of Transwestern Dallas, representing Hospice Plus, which now occupies 13,244 sf; and Ryan Hoopes of Colliers International, Zinwave’s broker for the 4,442-sf sublease.
The 218,926-sf Citymark’s current occupancy is 93%. There are three remaining spaces, the largest of which is 11,831 sf on the fifth floor. Just recently, Matrix Warranty Solutions signed a 2,689-sf lease. Andrea Pittman of the Eakin Group was the tenant’s representative.
“Tenants and potential tenants are reacting positively to the high-level finishes of the upgrades that have been underway since the Bradford-led partnership acquired Citymark in 2015,” Collinsworth says.
The 11-story building, featuring a four-story parking garage, was 74% leased when it was acquired. Bradford’s corporate headquarters was relocated to Citymark shortly after the purchase.
The renovation work will wrap up by summer’s end. A plaza deck with outdoor event space overlooking the Katy Trail, the Uptown skyline and Victory Park is being added to the structure. Interior improvements have focused on the addition of a 50-person conference center, tenant lounge and expanded fitness center with new locker rooms. The corridors and common areas also have been renovated.
Meanwhile, the tenants’ amenity package has been beefed up to include concierge-level services for vehicle washing and detailing, shoe shines, masseuse sessions, trainer and free use of bicycles for a jaunt on the Katy Trail. The property’s new restaurateur, Murphy’s Deli, rounds out the changes in the past 17 months under the new owner.
Situated on a 3.7-acre tract, Citymark on the Katy Trail is the only class A office tower with direct access to the northern trailhead of Uptown’s most popular venue for hiking, biking and jogging enthusiasts. The property also includes a half-acre development site near the entrance of the Dallas North Tollway.
July 29, 2016