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DALLAS-The ground crew’s been cleared from the final phase of a $22-million renovation at the 873,378-sf Campbell Centre, a 75%-leased Dallas property that has more deals in the pipeline now that the work’s wrapped up.

Those deals should come to fruition by year’s end or early 2003, Bill Lamberth, principal of Trammell Crow Co., tells GlobeSt.com. The two-building complex, owned by an affiliate of GE Asset Management of Stamford, CT, is bringing $20 per sf full service for the class A space that’s “more class A than it was,” Lamberth says of the landmark structures along Central Expressway.

The renovation got under way about 2 1/2 years ago. An estimated $20 million was sunk into the 431,000-sf Campbell Centre I, or the north tower, at 8350 N. Central Expressway. The extensive work, which included a full re-tenanting, wrapped up nearly a year ago as crews descended on the 426,000-sf sister building or south tower at 8150 N. Central Expressway.

The south tower’s work consisted of a $325,000 lobby makeover along with elevator and mechanical system upgrades. Lamberth says all that’s left to do is hang the artwork when it arrives. “Everything is done,” he says. “To get the lobby of the second building completed…will have significant impact for us.”

Campbell Centre, one of Dallas’ premier multi-tenant addresses, is designed with 16,000-sf floor plates, attracting a tenant base with offices ranging in size from 500 sf to 80,000 sf. Larger leases are carrying terms of seven to 10 years while the average length for smaller users run three to five years, says Lamberth.

The fully retooled Campbell Centre I today stands at 65% filled, with Pegasus as the major tenant. The connecting two-story concourse has Great West as its largest space taker while Campbell Centre II’s leads are WorkplaceUSA, also the general contractor for the lobby rehab, and Eland Homes.

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