Texas Capital Bank Pens Tower's First Office Lease

Texas Capital Bank, divvied into five regions, also is looking for about 100,000 sf to house its Dallas operation, but that's a different deal, says Michael Palmer, president of the financial institution's Fort Worth region. The recently signed lease, under negotiation for four months, sets up an October move-in to the second-floor office and street-level retail space in the high-rise at 500 Throckmorton St., where many residents already have settled into the 294 condos and four penthouses on the upper floors.

Palmer says the search effectively has been ongoing since 1999 when the bank opened its doors, first taking a 1,500 sf office in another CBD building, moving two years ago into 5,000 sf in the CashAmerica International Building along West Seventh Street and now prepping for the relocation to the Tower. "We have found what I consider to be our permanent location," he tells GlobeSt.com. The "right ingredients" that sealed the deal is the downtown location, "new" building, the Tower's success and visibility with a sign on the side of the structure, he adds. Still to come will be a request to city officials for a curb cut to create short-term parking for retail customers, Palmer says. The retail space will include teller stations, safe deposit boxes, 24-access ATM on the Throckmorton side and a night deposit. Palmer's plan calls for darkening the West Seventh Street space, but maintaining a drive-thru bank along East Belknap.

Tony Landrum, president of TLC Realty Advisors in Fort Worth, says another office deal has been signed, but it will be a couple weeks before the team releases the name. Jack Huff and Kyle Poulson, both principals with Fort Worth-based NAI Stoneleigh Huff Brous & McDowell, are leasing the 30,000 sf, second-floor office component and Lawrence Attaway and Ryan Tinch, both with United Commercial Realty/ChainLinks in Dallas are leading the retail chase. To date, several retail tenants have reserved about 3,000 sf in the 26,000-sf component while the anchor for a 7,000-sf to 10,000-sf building corner has yet to be settled. Landrum says he had a deal in hand and "at the last minute it fell apart."