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Exenta, which is moving into the Garment District, represents a bridge between the traditional fashion company tenants and the rising tenancy of tech firms.
In October 2017, Croman was sentenced to a year in jail and paid a $5-million tax settlement following separate criminal charges brought by the Attorney General's office for fraudulent refinancing of loans and tax fraud.
Such is the demand among large tenants for space—especially close to Caltrain or BART—that Bay Meadows developers revised plans for the last two buildings to add 167,000 square feet to the initial 200,000 total.
Sitex will renovate the property's interior and exterior – as it has dozens of other properties in the area – improving functionality and aesthetics to appeal to corporate occupiers.
The downtown Fort Worth market is strong and now that the Petroleum Building is part of Sundance Square's portfolio, the demand for this property will also be high, given that no new construction began in Q2.
New York City and Los Angeles can expect more residential apartment buildings, as another international team focuses in on the desirability of their locations.