DALLAS-The North Texas Commercial Association of Realtors is in the final stretch of talks to relocate its headquarters to the Plaza of the Americas in the CBD. If talks for the 10-year lease stay on track, the organization could move in mid-December.
"We wanted to be affiliated and support the resurgence of the downtown," says Brian Jetty, NTCAR's executive director. For a decade, NTCAR has leased space in the Dallas Association of Realtors Building at 8201 N. Stemmons Freeway.
According to Jetty, NTCAR president-elect Carl Ewert, an executive vice president with locally based Staubach Co., is negotiating for 2,500 sf on the 16th floor of the Plaza of the Americas' north tower at 600 N. Pearl St. The Chicago-based Trizec Properties Inc. has in-house broker Mike Toon handling its side of the talks.
Jetty says the site search began about three months ago in a bid to establish a class A headquarters identity that would set it apart from the region's residential realtors' operations base. "Trizec was very aggressive in working a deal out with us," he tells GlobeSt.com. "They wanted us associated with the building."
Jetty says the Independence, MO-based Xceligent Inc.'s local team, which oversees NTCAR's on-line property database, also will move from the residential realtors' building. Not only will the CBD office open the door to "create some synergies," but it also will provide built-in hotel rooms for out-of-town guests, he points out.
The two 25-story towers in the 1.2-million-sf Plaza of the Americas have 228,302 sf of office space on the market. Office quotes run from $15.50 per sf to $30 per sf annually, triple net.
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