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DALLAS-The Asian-based owners of Dallas’ landmark Centrum have replaced its asset manager, signing up Chicago-based Transwestern Commercial Services’ Dallas team. The 450,000-sf, mixed-use property carries an 80% occupancy in its 34 residential units, low to mid-90% occupancy in the 324,000-sf office component and 100% occupancy in the 43,000-sf of retail space.

Insignia/ESG’s Dallas office previously held the assignment. The change, says Jack Eimer, president of Transwestern’s central region, is a relatively common occurrence in a strapped economy. Just this year, Transwestern’s central region has picked up more than five million sf in new leasing assignments as building owners look for fresh blood to beef up tenant rosters, either in new signings or renewals. Unlike two to three years ago, Eimer tells GlobeSt.com, there is not an abundance of new tenants looking for space nor are properties fully leased these days. It’s a definite challenge, he says.

The 19-story Centrum, located at 3102 Oak Lawn, delivered in 1987 and is positioned on about three acres. Developed by Cedar Oak Ltd., it is the only Dallas holding of Asian-backed investment group, Centrum GS Ltd. 1991. The law firm of Barren & Bud occupies 160,000 sf in the tower, also home to a 54,000-sf athletic club, Star Canyon restaurant, Northwestern Mutual and Reese Architects. The high-profile, class A tower, says Eimer, “truly is recognizable by anybody who knows Dallas.”

Transwestern’s Cynthia York, general manager is heading up the Centrum’s on-site team. The new property manager also has assumed the structure’s 20-member team, including security and housekeeping, in taking the assignment plus added its own crew for the job. Matt Hurlbut, senior vice president, is tasked with asset management and Scott Walker, vice president, is in charge of leasing.

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