Sedgwick, Detert, Moran & Arnold has signed a 10-year lese in the 1.5-million sf Bank One that is 88% occupied, Don Dowell, leasing manager for Ft. Worth-based Crescent Real Estate Equities, tells GlobeSt.com. The property is fetching a rate of $23 per sf plus electric.
The deal has been marked by the unusual speed in which the law firm has acted. "It was done in three weeks from beginning to end," says Dowell. "It's kind of a rare occasion."
The building's official owner is Main Street Partners LP. The Bank One regional headquarters and banking facility take up the largest amount of office space, holding 346,000 sf. The San Francisco law firm is sharing a building that's home to a high number of competitors and has moved its 80-plus staff into 1 1/2 floors on the 54th and 55th floors formerly occupied by the law firm of Gibson, Dunn & Crutcher.
Dowell has represented the building owner, a partnership between Crescent and TrizecHahn Office Properties. Daryl Mullin of Cushman & Wakefield of Texas Inc. has acted on the tenant's behalf.
Dowell also has leased a 10,482-sf office spot in Bank One Center to Brown & Hofmeister, a new law firm. The start-up's 30-member staff is officing on the 43rd floor of the city's third-tallest building.
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