DALLAS In a round of fast-paced talks, SullivanPerkins has secured new headquarters space in its longtime neighborhood, Uptown. A January move-in to 3100 McKinnon is planned.
"We got this transaction done in record time due to a late-breaking opportunity," says Ed Pachecano, senior vice president and managing director of Bradford Commercial Real Estate Services, which leases and manages the 218,926-sf class A high rise.
SullivanPerkins, a 31-year-old advertising and design firm, has signed a long-term lease for 6,700 sf on the fourth floor of the 11-story building. Negotiations went full circle in two weeks.
"Our landlord quickly responded to the firm's immediate need for new headquarters space," says Richmond Collinsworth, a Bradford vice president. He, Pachecano and Kevin Santaularia, president and CEO of the Dallas-based brokerage firm, represented the ownership, 3100 McKinnon LP.
SullivanPerkins' new headquarters will be custom-built creative space with views of the Calatrava Bridge and elevator lobby exposure, offering strategic positioning in a multi-tenant building for an ad and design firm. Jones Commercial Interiors is the space planner. John Roper of CBRE Inc. represented the agency in the lease negotiations.
A Bradford-led partnership acquired 3100 McKinnon in February the only class A office building in Uptown with direct access to the Katy Trail. The 3.7-acre property is surrounded by many of the district's most desirable retail, restaurants, condominium towers and hotels.
Since the acquisition, Bradford has added several niche perks for its tenants, including a bike-sharing station primarily for use on the 3.5-mile Katy Trail, an urban amenity connecting the business district to recreational opportunities for hiking, biking, inline skating and jogging. The property's new concierge-level amenities include shoe shines, drying cleaning and car washing.
Bradford also is under construction on a fitness center and conference facility as well as an amenity deck for the four-story parking garage, which will create event and gathering space with striking views of the Katy Trail, Calatrava Bridge and Uptown's eclectic mix of uses and architectural diversity.
"We have a high-quality office project in one of the city's most vibrant neighborhoods without the sticker shock on our lease rate," Pachecano says.
Under Bradford's reign, the building's picked up five new tenants. Occupancy is now 85%, up from 72% when 3100 McKinnon changed hands.
"With this deal and the ones that are pending, we anticipate occupancy will be 90% by year's end," Collinsworth says. "Bradford's plan and vision for the property clearly have been well received in the marketplace."
November 16, 2015