DALLAS-Boutique law firm Munck Carter LLP has signed a lease for64,774 square feet in Banner Place. The firm already occupies43,116 square feet the 280,432-square-foot, class A building andwill expand into another 21,558 square feet in August.

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The firm, which moved to Banner Place from Galleria III in 2008,currently occupies the fifth and sixth floors of the 12-storybuilding. It is the largest tenant in the building and hastop-of-the-building signage on the north and south sides of theproperty.

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As part of its existing lease, Munck Carter had expansion rightsfor the fourth floor, which was vacant, but expanded much soonerthan anticipated. The firm, which specializes in human capital,intellectual property, business transactions and financing, isgrowing and hiring new attorneys.

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The firm signed a 15-year lease for the new space and extendedits existing lease so it would be co-terminus with the new lease,according to Belinda Dabliz, vice president of leasing for GaedekeGroup LLC, the local owner of Banner Place. She represented GaedekeGroup in the transaction, while John Amend of The Amend Grouprepresented the tenant.

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Dabliz tells GlobeSt. that Gaedeke Group had been working withMunck Carter for nine months to nail down the deal specifics. Shesays the firm considered the possibility of opening a satelliteoffice and looked for expansion space in both downtown Dallas andNorth Dallas.

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“They decided they wanted to have everyone together in onelocation,” Dabliz explains, adding that the firm also liked BannerPlace’s location within the Metroplex. Located on the northeast andsoutheast corners of Banner Drive and Coit Road at 12770 Coit Rd.,the building adjoins a three-story office building with skywalk toboth buildings.

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Banner Place offers a four-level parking garage forapproximately 860 cars, along with covered visitor parking. On-siteamenities include a full-service bank, deli and day carefacilities.

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Munck Carter's long-term extension and expansion pushes BannerPlace's occupancy to 86%. The building lost Argo Data ResourceCorp. a couple of years ago when the company moved to Richardson,leaving 86,000 square feet vacant on four floors.

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“The fourth floor is the last floor to be leased,” Dabliz notes.The firm plans to build an internal staircase between the fourthand fifth floors.

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The largest contiguous space now available in Banner Place is9,600 square feet. The asking rate for the building is $18 persquare foot, plus electric.

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