Sublease Tenant Guards Trophy Hold With Early Deal

DALLAS-With more than a year left on the sublease term, Summit Global Partners of Texas Inc. and Crescent Real Estate Equities Co. have stamped a direct deal to keep the headquarters team firmly rooted on two floors of a trophy high-rise in the Dallas CBD.

For the 3.5 years, the insurance brokerage firm has occupied floors 42 and 43 at Fountain Place, a 60-story, 1.2-million-sf trophy at 1445 Ross Ave. owned by Crescent FP Investors LP. Kirby White, the Fort Worth-based Crescent’s leasing director, tells GlobeSt.com that the direct deal doesn’t kick in until October 2005 when the 35,193-sf sublease expires with Chubb Insurance Co.