John Bowles Mandated To Fill 1M-SF Towers

DALLAS-Approximately a year and a half after Cannon Commercial Inc. acquired the 1.4-million-square-foot Galleria Towers, the Los Angeles owner has switched the trophy asset’s leasing assignment to John Bowles Co. The local brokerage company is now being asked to fill approximately 150,000 square feet remaining in the class-A, three-tower trophy property.

“This is not renewal realty here, the number-one goal is to fill up the building,” comments John Bowles who is president of John Bowles Co. “We’ve been given the mandate to go after new business.” Bowles tells GlobeSt.com he worked on getting the assignment from Jones Lang LaSalle for at least a year, and it’s the largest account his company has handled. Galleria I, II and III are on Noel Rd., just off Interstate 645 and adjacent to the Galleria shopping mall and the Westin Hotel Galleria. Cannon Commercial acquired the asset in from Fortis Property Group in May 2008.

According to Bowles and company managing director of brokerage Ed Pachecano the leasing approach is pretty straightforward: be aggressive. “We cold call a lot,” Pachecano tells GlobeSt.com. “We court the brokerage community. This is the nicest building in North Dallas, no question about it.” Adds Bowles: “There are a lot of unhappy tenants in a lot of buildings out there. “

To further underscore the importance of the account, John Bowles Co. now has a full-time presence on the property. Pachecano, Bowles and associate Chris Lipscomb are on site constantly, with Lipscomb having almost a full-time presence at the location. “We’ve already had tenants coming in and asking for tours,” Pachecano says. “If we had not been there, they wouldn’t have found us.”

What’s also somewhat different about the approach is that the brokers are actively encouraging all sizes of space, from a 2,000 square-foot office to an entire floor, which measures 22,000 square feet. “This building has the perception that if you aren’t big, you won’t get your phone calls returned,” Bowles says. “That’s not the case at all.”