DALLAS, January 4, 2013 – Crescent Real Estate Holdings LLC announced today that international law firm Weil, Gotshal & Manges LLP signed a lease renewal for 87,000 square feet at The Crescent®, conveniently located on the edge of Dallas’ Central Business District. Tony Click, leasing vice president at Crescent, represented the owner, Crescent TC Investors, L.P., while Hunter Blanks, executive vice president and Charlie Morris, vice president of Colliers International represented Weil.
The renewal keeps Weil at The Crescent® through 2028 and positions the firm’s Dallas office for steady growth and continued delivery of the highest level of client service, according to Glenn D. West, managing partner of Weil’s Dallas office. Weil’s Dallas office, which is celebrating its 25th anniversary this year, first moved to The Crescent® in 1993. The firm renewed its lease in 2003 and currently occupies space on the third, fourth and fifth floors.
“We have made a long-term commitment to The Crescent® that reflects our long-term growth objectives as well as The Crescent’s® dedication to world-class facilities,” said West. “Our partners wholeheartedly agreed that remaining in The Crescent® would best serve our firm’s needs while also delivering premier resources and amenities to meet the current and future needs of our sophisticated, global clients. The Crescent® and nearby Uptown area have long been the home of prestigious firms, many of whom are our clients, so it makes perfect sense to stay and continue growing here as we look forward to 25 more successful years in Dallas.”
“We are pleased to have represented Weil in this transaction and in helping to lay the foundation for the firm’s continued success in Dallas,” said Blanks. “We helped Weil evaluate a number of feasible options in the Dallas market during this process. Ultimately, The Crescent® offered the ideal solution both in terms of practical elements, such as parking, surrounding amenities and ease of transit, as well as in terms of the building’s prestigious image and its solid fit with Weil’s top-tier, global brand.”
The new lease extension provides for nearly 87,000 square feet of space, including the entire third floor of The Crescent® (100, 200 and 300 buildings) and the fourth floor of the 300 building. The lease also provides ample, flexible options to accommodate Weil’s redesign plans and future expansion needs. Weil currently has approximately 90 full-time attorneys practicing in its Dallas office.
Weil and Dallas-based interior architecture firm the lauckgroup brought an award-winning, innovative approach to Weil’s current office space at The Crescent® in 2003, designing them to incorporate new technologies, flexible spaces, novel methods of storage and clustering of personnel in forward-thinking ways. The firm plans to employ a similarly progressive design approach as it works to upgrade its office space in the near future. The redesign is anticipated to make more efficient use of the floorplate and incorporate the latest technological advancements, while also ensuring the space is readily adaptable to evolving technologies and needs.
“Crescent is pleased to renew Weil as a customer for the long term,” said Click. “The recognition of The Crescent® as a prestigious address with outstanding amenities and its convenient location as the centerpiece of the Uptown/Turtle Creek office market was beneficial during Weil’s evaluation of the Dallas office market.”
ABOUT THE CRESCENT®
Built in 1986, The Crescent® Office Towers complex is the centerpiece of the Uptown/Turtle Creek Class A office market. Conveniently located on the edge of Dallas’ Central Business District, The Crescent® features some of Dallas’ premier restaurants and shops and offers convenient access to Klyde Warren Park, Dallas North Tollway and Central Expressway. The Crescent® office towers, a property of Crescent TC Investors, L.P., total 1,134,826 rentable square feet in three contiguous buildings with a 19-story center structure and two adjoining 18-story structures.
ABOUT CRESCENT
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 owns or manages a portfolio of 25 premier office buildings totaling over 9.2 million square feet located in select markets across the United States with major concentrations in Fort Worth, Dallas, Houston, Denver and Las Vegas. 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.
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