DALLAS – Five months after its launch, Principal Investments has nearly doubled the size of its Dallas headquarters in Highland Park West, adding 4,545 sf of boutique office space to keep pace with its growth.
The media and investment company has scooped up two speculative suites to expand its headquarters to 7,101 sf at 4300 MacArthur Dr., Highland Park's only office building visible from the Dallas North Tollway. Jared Laake, vice president of Bradford Commercial Real Estate Services, and Richmond Collinsworth, senior vice president and managing partner, represented the landlord in the direct deal, which runs co-terminus with the original lease.
"Principal Investments is doing quite well. We're happy our tenant is expanding so quickly," Laake says, "and, we were able to accommodate their immediate need."
Principal Investments invests in core businesses targeting consumer products and services, education and media. It is part of the New Founding group of companies, a digital alliance formed to promote national interests.
The Town of Highland Park is one of Dallas' most sought-after residential addresses. The tony neighborhood includes million-dollar homes, a cachet of high-end retail, premier restaurants and limited office options.
"Many of our tenants are decision-makers who want to office close to their homes," Laake says, citing a professional mix of attorneys, CPAs, medical specialists and boutique firms.
Highland Park West, totaling 51,847 sf, is now 94% leased. The Bradford team has completed roughly 30,000 sf in new leases since December 2019 when it was awarded the assignment by the local owner, 4300 MacArthur Partners LP.
"We convinced the owners early on to invest in upgrades to the common areas and build out spec suites. It's paid off," Laake says.
With Principal Investments leasing both spec suites, Laake says plans are underway to create two more from the remaining 4,392 sf of contiguous space. One of Highland Park West's drawing cards is the location – just a block from the Lemmon Avenue entrance/exit to the Dallas North Tollway and close to Love Field and Downtown Dallas.
"It's one of the few office buildings in Highland Park proper," Laake says. "It's a hidden gem at an irreplaceable location."