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Peloton Assumes Leasing of 273,080-SF High Rise

DALLAS-Goddard de-lists the 55%-leased Saint Paul Place from the sales block after investing millions into its dress up. Given the times, the focus shifts to lease-up.

By Connie Gore | Updated on September 22, 2008

[IMGCAP(1)]DALLAS-With investment sales at a slow crawl, Atlanta-based Goddard Investment Group is undertaking a new tact for the 273,080-sf Saint Paul Place in the Arts District. The new plan pulls the 55%-leased, renovated high rise from the sales block and puts a new leasing team on the ground for its repositioning.

The 22-story Saint Paul Place at 750 N. Saint Paul St. underwent a multimillion-dollar renovation last year as part of Goddard’s value-add plan before it moved to the sales market. As is so common these days, the re-groomed class A office building has been de-listed until the market calms down.

Goddard didn’t respond by deadline to comment on the decision which, in turn, triggered a competition for the leasing assignment. The decision’s now in: Peloton Real Estate Partners has wrestled the lease from Grubb & Ellis Co., which also didn’t respond by deadline to comment on the assignment loss.

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