THE CRESCENT® SECURES 158,949 SQUARE FEET OF NEW, EXPANSION, AND RENEWAL LEASES IN FIRST HALF OF 2021
DALLAS, June 17, 2021 – Crescent Real Estate LLC (Crescent) announces nine recent lease deals at The Crescent®, bringing the total new, expansion, and renewal leases so far in the first half of 2021 to 158,949 square feet. In March, GPIF TC Owner LLC, an affiliate of Crescent, purchased The Crescent. Crescent has leased and managed The Crescent since 1994.
Crescent’s knowledge and long-term relationship with the unique 1.3 million-square-foot luxury office and mixed-use development assisted the investment, development, and property management company to aggressively recruit and retain customers during a hot 2021 commercial real estate market.
“As North Texas emerges as a hotbed of corporate relocations, Crescent is seizing this great opportunity to attract new customers and retain current customers at one of the most desired office spaces in North Texas,” said Tony Click, Vice President Leasing for Crescent.
“We are on an aggressive pace, securing nearly 160,000 square feet of new, renewed, and expanded leases in the first half of the year. We could add to those impressive first-half totals with prospective deals being discussed to bring customers to North Texas’ premier mix-use office and retail development,” Click added.
The recent new deals, renewals, and expansions were secured by Click and Marissa Parkin of Crescent. New lease deals include:
- Portfolio Advisors, LLC, with 5,285 square feet in Suite 800 of Building 100. Peery Wood of CBRE represented Portfolio Advisors. Portfolio Advisors Portfolio Advisors, LLC is a U.S. middle-market private asset management specialist that builds value for its clients and partners through multi-strategy investment programs in private equity, private credit, and private real estate.
- Presidio Trading, LLC, with 927 square feet in Suite 225 of Building 300. Shawn Hall of TB Advisors represented Presidio Trading. Presidio Trading is a privately held financial services company based in Dallas.
- Caelus Energy, LLC, with 4,212 square feet in Suite 1450 of Building 100. Greg Burns and Austin Studebaker of ESRP represented Caelus Energy. Caelus Energy is a privately held Exploration & Production company focused on the identification, pursuit, and development of unique opportunities across the energy sector.
Recent lease renewals include:
- Highlander Partners, L.P., with 14,029 square feet in Suite 550 of Building 300. Jon McNeil of JLL represented Highlander Partners. Highlander Partners is a Dallas-based private investment firm with over $2.0 billion of assets under management. The firm focuses on investments in businesses in targeted industries, including basic manufacturing, food, chemicals, building materials, consumer products, and others.
“The Crescent is an iconic building with a great location, attractive amenities, and solid management. And we continue to believe that it represents an ideal building for Highlander Partners to continue to grow its business in the years ahead,” said Robert Sussman, Chief Financial Officer for Highlander Partners, L.P.
- The Blum Firm P.C., with 6,072 square feet in Suite 1350 of Building 300. Bill Zei of McLeodZei represented the Blum Firm. The Blum Firm, established more than 40 years ago, specializes in estate and tax planning and related specialties of asset protection, business planning, business succession planning, charitable planning, family legacy planning, fiduciary litigation, guardianships, and estate administration.
- KR Wealth Management, with 1,498 square feet in Suite 445 of Building 100. Dan Jardine of NAI Robert Lynn represented KR Wealth Management. KR Wealth Management provides financial planning services and investment to business owners, executives, physicians, and other high net worth individuals and families with complex financial situations.
- Paragon Associated Joint Venture Limited, with 4,623 square feet in Suite 260 of Building 500. Paragon Associated JV is a limited liability hedge fund company based in Dallas.
- Turnbridge Capital LLC, with 2,612 square feet in Suite 675 of Building 200. Turnbridge Capital is an energy-focused private equity firm with offices in Dallas and Houston. The firm invests in companies that provide products and services to the upstream, midstream, downstream, renewables, and adjacent energy-related infrastructure segments.
- Woodforest National Bank extended its lease and added 1,387 square feet for a total of 5,114 square feet in Suite 1130 of Building 300. Mary Stoner of Colliers International represented Woodforest National Bank. Woodforest National Bank has more than 40 years of community banking service and operates over 760 branches in 17 states across the United States.
In April, Crescent announced new lease deals with First Foundation, Inc., for 6,931 square feet; Susser Bank for 4,697 square feet; Verde Investments, Inc, for 4,498 square feet; Work Shield, LLC, for 4,425 square feet; MSL Healthcare 2, LLC, for 2,993 square feet; and Schonfeld Strategic Advisors LLC, for 2,812 square feet.
April lease renewals include Citigroup Technology, Inc., for 11,983 square feet; Jefferies LLC, for 7,900 square feet; Century Bridge Partners Management LLC, for 3,805 square feet; Wallace Capital, for 3,154 square feet; and Ares Management LLC, for 1,636 square feet.
In March, Crescent announced lease expansions and renewals at The Crescent® with First Texas Homes for 24,279 square feet and The Arnold Companies for 24,577 square feet.
The Crescent’s prestigious office space features three connected office towers surrounded by outdoor green spaces, significant mix-use retail, eleven casual and fine dining options, and the luxury Hotel Crescent Court and Spa. Some of The Crescent’s dining amenities include Dallas’ finest and trendy restaurants, such as The Capital Grille, Sixty Vines, Moxie’s Grill & Bar, Ascension, East Hampton, Shake Shack, and the well-established Nobu and The Crescent Club.
Exclusive retail options are anchored by Stanley Korshak, a Dallas emporium that pampers customers with service and high-quality merchandise.