John F. Crawford, president and CEO of DowntownDallas saysgrowth and other factors necessitated a change of space from itscurrent 6,000-square-foot location at the Adolphus Tower. He saysChase Tower at 2200 Ross Ave. was the location of choice for avariety of reasons.

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"Hines' financial commitment to the CBD and Stream Realty'screativity helped make a difference as we evaluated our options,"Crawford acknowledges. He says other options were considered,including staying put at the 182,327-square-foot Adolphus Tower at1412 Main St. Though Crawford opted to move his organization, "thereason we're moving has nothing to do with the location or qualityof the Adolphus," he comments.

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Sarah Payne, vice president with Stream Realty Partners LP'sDallas office says DowntownDallas is moving into empty space, whichwas once home to Greenberg Traurig. Greenberg Traurigmoved outabout a year ago to take part of Chase Tower's 53rd floor inaddition to its offices on the 51st and 52nd floors.

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As a result, DowntownDallas' deal required "very minimal TIs,"Payne tells GlobeSt.com. "We're doing a couple of modifications,we're moving a wall or two and are painting, but otherwise, thespace is perfect for them." The quoted lease rate for the tower is$37 per square foot, plus electricity.

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Payne says occupancy at Chase Tower is around 92%, and themajority of space remaining is on the 40th floor. That space maynot be available for long, though, thanks to the new tenant, whichis a non-profit organization dedicated to the revitalization andsustainability of the CBD.

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"John Crawford is a great cheerleader for downtown. Having himand his organization in our building speaks volumes for the qualityof this asset," Payne says. "He's already pointing us in thedirection of some potential new deals."

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