Evolution Real Estate Co., a full-service specialty firm that deals in lofts and unique urban homes, took as-is, second-floor space with the dealmaker being a layout and design tailor-made for the urban image that the new six-agent firm wants to project, Michael Johnson, the firm's owner, tells GlobeSt.com.
The 18,000-sf building, with 12,921 sf sitting empty, is a class C building with a quoted rate of $16.50 per sf, according to the North Texas Commercial Data Exchange. The upside is the firm gets a location between Uptown and downtown, where luxury, urban homes, condos and townhouses have been selling and leasing at a brisk pace. In March, close-in neighborhoods and the CBD racked up 17 single-family sales at an average price of $242,869; 76 condo and townhouse sales with an average $277,766 trading price; and 31 leases at an average rent of $1,374.
Building owner RM Crowe Co. had vice president of leasing, Chris Axley, negotiate the medium-term lease. Johnson handled his side of the deal for a strategically located office at the intersection of Akard Street and Woodall Rogers Freeway.
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