Capital One Commercial Inks 10-Year CBD Lease

DALLAS-After nearly four months of negotiations, Capital One Bank Commercial has signed a 10-year lease for the 1.2-million-sf Plaza of the Americas’ south tower, taking the 23,840-sf top floor as its regional office and a 2,392-sf retail spot at ground level. Move-in is set for early in the first quarter.

Hunter Blanks, Charlie Morris and Lauren Walker with Colliers International in Dallas led the search, which began in April and quickly zeroed in on the Plaza of the Americas’ south tower at 600 N. Pearl St. in the Downtown. Carla Machulis and Joel Pustmueller with Peloton Real Estate Partners, represented the joint venture owner, Blackstone Group of New York City and European investors.

Blanks tells GlobeSt.com that the retail location wasn’t required, “but it was a major consideration.” He says there were 11 office options initially identified in the Downtown, with the list “quickly” being shortened to five. In June, Plaza of the Americas emerged as “where they wanted to be,” he says. Capital One’s commercial group is led by area president Kent Eastman, who also is chairman of this year’s United Way drive in Greater Dallas.