Three Office Leases Totaling 13,346 Square Feet At The Crescent
Published on: Dec 02, 2014
CRESCENT REAL ESTATE ANNOUNCES THREE OFFICE LEASES TOTALING 13,346 SQUARE FEET AT THE CRESCENT®
Complex’s new vision, proximity to financial community and Uptown vibrancy are big draw for Turnbridge Capital and Tailwater Capital; Aubrey Connatser expands to accommodate growing family law practice
DALLAS, TX, December 2, 2014 – Just weeks after leaders unveiled plans for a major $30 million renovation of The Crescent®, Crescent Property Services LLC today announced that three office leases have closed. Tailwater Capital, LLC has signed a lease for 6,349 sq. ft., Turnbridge Capital Partners is taking 5,287 square feet, and Connatser Family Law will add 1,710 square feet to the existing 4,690 sq. ft. it already occupies. Tony Click, vice president of leasing for Crescent Real Estate Equities, LLC, represented the owner in all three transactions. Michael Haggar of Jones Lang LaSalle represented Tailwater Capital, Matt Craft of Lincoln Property Company represented Turnbridge Capital Partners, and Sterling Ream of Wingert Real Estate represented Connaster.
Click attributes the recent deals to the “new vision” conceived for The Crescent. The renovation will touch on almost every exterior edge. Designed by John Burgee and Pritzker Prize-winning architect Philip Johnson, the 11-acre mixed-use project opened in 1986 as a self-contained complex with thick stone walls and iron grillwork gates, which projected an exclusive and internally focused business. The upgrades will signal an open and inclusive office space and fashionable retail atrium that will encourage residents and visitors to drop by for a bite to eat, to grab a coffee, meet with friends or do some shopping. In addition to park-like green spaces, changes will include outdoor courtyards with open gardens and terraces serving as gathering spaces and facilitating community access.
It’s a return gig for Tailwater co-founders Jason Downie and Edward Herring who used to office at The Crescent years ago while working for Hicks Muse. Currently located at a small North Dallas building, they greatly missed the access, amenities, restaurants, prestige and general buzz that surround The Crescent and the Uptown neighborhood.
“But what really sold them was the new vision for The Crescent,” said Click. “They saw the plans and wanted to be part of this transformation, which is the first major renovation for The Crescent since it was built almost three decades ago.”
It was barely a year ago that Aubrey Connatser -- named a Texas Super Lawyer and one of The Best Lawyers in America -- struck out on her own and set up office at The Crescent. Immediately successful, Click says she quickly outgrew the space. The added square footage will allow her to accommodate an ever-increasing client base.
Click said Turnbridge partner J. Kent Sweezey had been familiar with The Crescent for years as a member of the Rosewood Crescent Hotel fitness center. He, too, was impressed with the improvements being made but also was drawn to The Crescent’s reputation as a major financial hub.
“The Crescent is considered one of the prime financial centers in the Southwest, so we are delighted to welcome Tailwater Capital and Turnbridge as they take advantage of not only the amenities and vibrant Uptown neighborhood but also our thriving business environment,” said Click. “And we’re excited to be part of the growth that Aubrey Connatser and her team are achieving. All three firms are tremendous additions to The Crescent.”
Renovation plans to the 28-year-old complex call for a new storefront for retail outlet, Stanley Korshak; a new street entrance and outdoor seating for the Palomino restaurant; and the revamp and “greening” of the motor court to create a piazza-like, tree-lined drive and pedestrian walkway. The Crescent has recruited The Office of James Burnett, who crafted the award-winning Klyde Warren Park, to create the landscape design, which includes turning unused areas of the complex into intimate spots for relaxation and fun. Other improvements include elegant, ground-level lighting of the iconic buildings. The lobbies in the office towers are also getting a makeover with new furniture and rugs, art and a wall of TVs. The lobbies will become user-friendly hubs where workers can hold a quick meeting or catch up on work.
Also coming to The Crescent are exciting new retail options, one of which was announced in November. Ascension®, the extremely popular coffee house and wine bar that originated in the Dallas Design District, will open its second location this spring with a similar menu (including full-service breakfast/brunch, lunch and dinner), the same coffees and possibly a larger wine list along with expanded operating hours. More restaurants and retail will be announced in coming months.
ABOUT THE CRESCENT®
The Crescent®, a mixed-use complex that offers approximately 1.1 million gross square feet of office space in three contiguous buildings and almost 165,000 gross square feet of atrium space for retail shops and offices is the only Uptown office building with a dual-feed power supply and innovative destination-dispatch elevators. The Crescent has been a U.S. EPA Energy Star Top Performer since 2008 and in 2010 earned LEED Silver certification from the U.S. Green Building Council (USGBC) Leadership in Energy and Environmental Design (LEED) under the existing buildings category.
The Crescent’s location provides convenient access to downtown Dallas, Klyde Warren Park, Crescent’s McKinney & Olive 530,000 rental square-foot mixed-use project, the Dallas Arts District, Dallas North Tollway and Central Expressway. The Crescent is located at 200 Crescent Court, Dallas, Texas. For more information, visit thecrescent.com.
Crescent Real Estate Holdings LLC, headquartered in Fort Worth, Texas, is a fully-integrated real estate company owned by Barclays Capital and Goff Capital. Through its subsidiaries, Crescent manages and develops premier, Class A office buildings. Crescent also holds investments in resort residential developments in locations such as Scottsdale, Vail Valley, and Lake Tahoe; a luxury hotel, The Ritz-Carlton, Dallas; and the wellness lifestyle leader, Canyon Ranch®. For more information, visit Crescent's Web site at www.crescent.com.