The Houston-based Susman Godfrey, eyeing a late spring move-in, "has some rights to the rest of the floor," Paul Stockard, principal for the Fort Worth-based NAI Stoneleigh Huff Brous McDowell, tells GlobeSt.com. He says the law firm has been subleasing for five years from Strasburger & Price, but was faced with relocation when the larger firm struck a new deal with building owners, Sunbelt Management and Dallas Main LP.
Stockard, partnering with NAI principal Sanders Thompson, says the short list was down to "two or three" and all in the Dallas CBD. The 72-story Bank of America Plaza at 901 Main St. "turned out to be the best option," Stockard says about a nine-month process. "It was a very competitive financing option." The 1.8-million-sf Bank of America carries quoted rates ranging from $19 per sf to $22 per sf.
Daryl Mullin, senior director in Dallas for Cushman & Wakefield of Texas Inc., represented the building owner, which put Susman & Godfrey into long-vacant, 27,000-sf floor once occupied by accounting firm giant, Arthur Andersen. Prior to the Susman Godfrey lease, Bank of America Plaza was 87% occupied.
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