NEWS

 

THE CRESCENT BOOSTS REPUTATION AS SOUTHWEST’S FINANCIAL HUB WITH NEW LEASES TO FIVE PROMINENT BANKS AND WEALTH MANAGEMENT FIRMS

08/22/2017

Dallas, August 22, 2017 – Crescent Property Services LLC today announced that a number of banks and wealth management firms have leased space at The Crescent®, reinforcing its reputation as the financial hub of the Southwest with a total of 117 financial firms now located in the mixed-use complex.

Coming to The Crescent are Wells Fargo Securities leasing 13,962 square feet; PNC Bank leasing 10,952 square feet; Alex Brown, a division of Raymond James, leasing 9,064 square feet; BMO Harris Bank leasing 3,700 square feet; and West Texas National Bank leasing 1,799 square feet.

Tony Click, vice president of leasing for Crescent Real Estate Equities, LLC, represented The Crescent on all of the transactions. Mitch Wolff and Joe Siglin of Newmark Knight Frank represented Wells Fargo Securities; Curt Starr of Fischer represented PNC Bank; Todd Brandon and Craig Wilson of Cushman & Wakefield represented Alex Brown; Charlie Morris of Avison Young represented BMO Harris Bank; and Russell Cosby of JLL represented West Texas National Bank.

“We’re delighted that these prestigious financial firms have signed on at The Crescent,” said John Zogg, managing director of Crescent Real Estate Equities, LLC. “Not only do they value The Crescent’s standing as a renowned financial center, but also, they appreciate our unparalleled offering of amenities and embrace the Uptown neighborhood as a popular place to live, work, and play.”

The new leases come on the heels of key retail announcements made this year. These include East Hampton Sandwich Co., which opens early September, and Sixty Vines, a popular Plano restaurant that is opening its second dining spot at The Crescent in early 2018. Also, veteran gallery owners Karen and Michael Bivins launched the Bivins Gallery earlier this spring. The addition of two new restaurants and the contemporary art gallery – along with the successful openings of Shake Shack, Ascension Coffee and Moxie’s Grill & Bar – builds upon “The Vision” strategy to make the iconic 31-year-old, mixed-use complex a more popular gathering space in the vibrant Uptown neighborhood.

Hotel Crescent Court currently is undergoing an extensive $30 million renovation to modernize and amplify the experience of sophisticated Southern hospitality. Renovations include the complete redesign of all 195 guest rooms and 31 suites, elevators and guestroom corridors, the 22,000-square-foot spa and fitness center, as well as the hotel lobby and bar. Dallas-based interior and architectural design firm, waldrop+nichols studio, created the design and will direct the renovation.

The investment in Hotel Crescent Court follows the recent $33 million upgrade – and the first major renovation since its 1986 debut– of The Crescent complex, a multi-office complex designed by John Burgee and Pritzker Prize-winning architect Philip Johnson. The office and retail complex is the centerpiece of the Uptown Dallas Class A office market offering approximately 1.1 million gross square feet of office space in three contiguous buildings and 165,000 gross square feet of atrium space for retail shops and offices.