X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DALLAS-Walter P. Moore & Associates Inc., an engineering firm for high-profile projects, has once again added to its regional office space in Uptown. The reworked lease tacked 2,200 sf onto its bottom line, boosting the total to 18,415 sf in the class A Advancial Tower.

In inking the deal, the engineering firm carved out its second expansion at 1845 Woodall Rodgers since 2001 when it moved into the 147,401-sf building. Just last year, the firm, part of the team for the Dallas Cowboys Stadium in Arlington, not only expanded but extended its lease in the tower. The co-terminus stair-stepped pacts for 2,200 sf on the 12th floor and parts of the 10th and 16th floors have slightly more than five years to go on the terms, Tim O. Terrell, executive vice president for Dallas-based Stream Realty Partners LP, tells GlobeSt.com.

To get the extra room, Terrell says the owner, Charter Holdings LP of Dallas, exercised a relocation/cancellation option in another tenant’s lease. Terrell was tasked with finding new space to meet the bumped tenant’s needs so Walter P. Moore & Associates could expand. With the space now emptied, finish-out can begin on the Advancial Tower opening. Move-in is planned for Feb. 1.

Terrell says the Houston-based engineering firm, using an out-of-town broker, did look around the Downtown. “But they saw that we were quoting market rents,” he explains. The building’s quote is $23 per sf plus electric. The expansion took roughly four months to bed down.

Terrell says the deal kept Advancial Tower at 100% occupancy, a level it achieved three months ago. “The key driver for that building is location,” Terrell stresses, citing its accesses to the Dallas North Toll Road, Interstate 35 and Woodall Rodgers Freeway.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.