Build-out took nine months at the now 83%-occupied, 284,000-sf high-rise, owned for four years by Chicago-based Equity Office Properties. The tenant inked a five-year lease for the 18,016-sf premier penthouse location, where the new activity was obvious but the headquarters move-in was kept under wraps until this week, says an Equity source.
Meanwhile, it marks the second major lease announced in recent months for an Equity property in the submarket. In late October, Zurich American Insurance Co. signed for 96,000 sf at Four Forest Plaza, a 394,324-sf, class A property.
The Equity insider believes the near back-to-back lease announcements signify a renewed demand for class A office space in Dallas' in-town markets. In recent years, the Park Central corridor in particular, had occupancy dip as tenants sought comparable quality space in Far North Dallas, Richardson and Las Colinas. The Zurich American Insurance lease took Four Forest Plaza to a 94% occupancy.
The John A. Arnold Co. of Dallas finished out the Energy Club space, tackling a conversion with such non-traditional office elements as cathedral ceiling and large, barrel-vaulted windows. Greg Spitler and Todd Ratliff, both of Dallas-based Fischer & Co., and Andy Smith and Ben Parker, both of Equity Office, negotiated the HealthTexas lease.
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