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[IMGCAP(1)]DALLAS-Peloton Real Estate Partners has wrestled leasing and management reins to 500,336 sf of office space in the West End and LBJ Freeway from its long-time guard, CB Richard Ellis. The winner now oversees the majority of San Clemente, CA-based Argus Realty Investors LP’s Greater Dallas portfolio.

The just-turned contract covers the 369,052-sf TriWest Plaza, a class A high rise at 3030 LBJ Frwy., and the 131,284-sf Landmark Center at 1801 N. Lamar St., a historic class B building now sporting loft-style offices and street-level retail. CBRE declined to comment on the contract reassignment.

In both cases, the plan is to hustle and cold call to outmaneuver the neighbors, according to Trevor Franke, vice president of Dallas-based Peloton. The West End’s Landmark Center is 89% leased and TriWest Plaza is 84% filled. He credits the win to the “success” in winning deals for Argus’ International Business Park.

Franke says the once-popular West End’s occupancy has been trailing other in-town streets, but he believes proximity to Victory is helping to perk it up, albeit slowly. He tells GlobeSt.com that an evaluation is under way to convert a long-dark 8,987-sf restaurant spot into more loft office space since there is no lease rollover until 2011 and no office openings in the six-story building. [IMGCAP(2)]He adds that Argus isn’t ruling out a replacement restaurant while it weighs whether to divvy the space and redress it for office. The retail spot is being marketed for $21 per sf, triple net. Office, should it come about, is tagged at $21 per sf plus electric. The 19-tenant Landmark Center’s lead is Reese Associates, an architectural firm occupying 30,000 sf on two full floors.

Franke says the 17-story TriWest Plaza will have an 11% rollover in its 84% occupancy this year and 7% in 2009. The 44-tenant building’s lead is ClubCorp, which has 92,430 sf locked in on the upper floors for the long term.

The building’s largest contiguous opening is 26,000 sf on the 10th floor and part of the ninth. The rate is $19 per sf full-service. “We’re going to re-energize the marketing effort,” Franke stresses, “with fresh eyes and new energy. And, we will be hustling and cold calling.” His partner for the assignment is Peloton associate Aarica Nix.

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