Cannon Puts Management Plan to Work at Trophy

DALLAS-Cannon Commercial Inc. has its new management plan up and running for the 1.4-million-sf Galleria Tower I, II and III. The Los Angeles-based owner has pulled management in-house and added Grubb & Ellis Co. to assist on the local level.

Cannon bought the landmark office trio beside the Galleria Dallas mall in late May from New York City-based Fortis Property Group, which was kept in place to manage the “shell structure,” specifically personnel oversight and related issues. Cannon’s MO is to manage its holdings while opting to contract part of the day-to-day functions to a local company, according to Shervin Mateen, Cannon’s CEO.

“Fortis had been doing that during the transition, but they are a New York company,” Mateen says. “We are familiar with Grubb & Ellis and are very happy with them. They know we’re not a typical owner and we’re hands on. We are involved in all decisions from A to Z.”