DALLAS-Cumulus Media plans to relocate its local operations to Victory Park. The company, which is the second largest radio broadcast company in the country, inked a 10-year lease for 20,248 square feet in the Victory Plaza office building.
Victory Plaza includes two class A, five-story office buildings totaling 185,000 square feet. The buildings are flanked by the AT&T Plaza at the steps of American Airlines Center. Notable tenants include the studios of WFAA-TV Channel 8, Hillwood, GDA Architects, Carson Private Capital and Public Strategies.
Cumulus Media, which owns four of the markets top local radio stations including KTCK-AM 1310 The Ticket and KPLX-FM 99.5 The Wolf, currently has offices at 3500 Maple in the Turtle Creek area of the city. After being a tenant in the building for roughly 20 years, the company scoured the market for another home as its current lease neared expiration, according to Bill Brokaw, a vice president with Cousins Properties Inc.
Brokaw represented the building owner, Victory Park UST Joint Venture I, L.P., and Jeff Ellerman and Phil Puckett of CBRE represented Cumulus Media, Inc.
Cumulus Media will take possession of its first-generation space on the fourth floor of Victory Plaza next July, Brokaw notes. The new lease brings the west building to 100% occupancy and the entire project to 98% occupancy.
“Victory Plaza is an ideal fit for our four great brands,” says Dan Bennett, vice president/market manager for Cumulus in Dallas. “The American Airlines Center attracts and hosts sporting and entertainment events that reinforce our sports and entertainment brands. The location is ideal and we look forward to joining WFAA-TV Channel 8 as co-media anchors of the growing Victory Park development.”
Brokaw tells GlobeSt.com that he first began talking with Cumulus Media more than 18 months ago. “We went after them hard because we thought they were a great fit for the project,” he says.
As part of its lease, Cumulus will receive signage in Victory Plaza. “They’ve got some options here including top-of-the-building signage on the east building,” he notes.
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