DALLAS-Fortis Property Group, LLC, is ready to begin renovations and improvements at The Colonnade, the 1,070,126 square-foot trio of trophy property office towers the company acquired in March. The Colonnade has already seen over 100,000 square feet of total leasing in the four months since acquisition.

“We saw that The Colonnade had tremendous potential to sustain and even enhance its reputation as one of the truly outstanding Dallas office properties, and so far it has exceeded expectations,” said chairman Louis Kestenbaum.

New leases from RMG Networks at 32,000 square feet, another new lease at 13,000 square feet and 15,000 square feet of expansions bring the property to 92% leased.

During the first phase of the property enhancement program, Fortis plans to renovate and remodel the west side of the main atrium with modern, brighter finishes to complement the natural light illuminating the atrium. Immediate plans also include new, ready-to-lease spaces with first class finishes and updated common areas and restrooms on various floors. Staffelbach Design Associates is the architect for the planned improvements, which are slated to be complete by October.

“We are very pleased with the reputation and strong performance at The Colonnade, and are committed to maintaining the property at the highest level,” said Fortis CEO Jonathan Landau. “The quality, location and amenities in the building and area are a strong draw for current and potential tenants.”

The three towers creating The Colonnade are connected via a five-story, barrel-vaulted glass atrium with restaurants, convenience amenities, seating areas, landscaping, and water features. Tenants enjoy access to a customer service center, The Colonnade Club, fitness center, video conferencing center which seats up to 100, an eatery, a convenience store and 24/7 onsite security. The Colonnade is also located immediately adjacent to the Tollway within minutes of more than 170 restaurants, 12 banks, 22 hotels and countless shopping destinations.

The Colonnade has recently been recognized in the region by the Building Owners & Managers Association's Outstanding Building of the Year program, the most prestigious annual award program in the commercial real estate industry.  Additionally, The Colonnade achieved LEED Silver certification, with some of the lowest energy rates in its class.  

The acquisition and renovation of The Colonnade are part of Fortis's overall Dallas strategy, which is focused on buying and improving best in class properties within the top Dallas business hubs. Fortis also owns Harwood Center in downtown Dallas and NEC Center in Las Colinas. With well over 2 million square feet across North Texas, Fortis is one of the largest property owners in the DFW area. Cushman and Wakefield supports leasing at all three properties.

Fortis Property Group, LLC is a private real estate investment, operating, management and development company headquartered in Brooklyn, NY. Since 2005, Fortis has acquired and/or developed in excess of $3 billion of commercial real estate (over 8 million square feet) throughout the United States. The company focuses primarily on Class A office and multi-family (rental and condo) residential properties, with one-off investments in other asset classes such as retail and industrial.