The independent electric transmission firm, formed in 2014 by industry veterans, partners with municipalities, public power agencies, and electric cooperatives to increase system reliability and lower costs. It has long-term arrangements with public power entities operating in Texas, Oklahoma, Missouri, Kansas and Nevada, and is negotiating new partnerships with utilities in several other states.

“Texas is in the heart of our current partnered footprint and an epicenter for energy innovation,” said Calvin Crowder, president and CEO of GridLiance.

The Mandalay Towers campus is located along the Mandalay Canal and Lake Carolyn in the Las Colinas Urban Center. Improvements include new lobby finishes, tenant lounges, conference and fitness center renovations, and the creation of Mandalay Park, an expansive green space in the center of the three towers.

Dan Paterson, president of Swearingen Realty Group, represented GridLiance in its search and lease. The company considered various options in North Dallas and Las Colinas, he said.

“Mandalay Tower 3 quickly became a top option among the finalist buildings due to the numerous on-site amenities and the walkability to the many amenities within the Urban Center,” Paterson said. “And, being from Chicago, GridLiance loved the fact that Mandalay Towers has an APT station on site, allowing employees to take the APT system to the DART light-rail line, providing quick trips to DFW International Airport and downtown Dallas. My client was also pleased with the ability to secure an efficient full-floor space with floor-to-ceiling windows to create an open, bright and collaborative work environment for employees, along with the new Mandalay Park, fitness center, conference center and deli.”

Josh Hedderich, senior vice president of asset management for Parmenter, said the renovations at Mandalay Towers have energized the campus. ENTOS designed the interiors, Scott + Reid was the general contractor, and Complete Landsculpture envisioned and oversaw the development.

“The finishes have given everything a new-building feel and you can just feel the energy,” Hedderich said. “It's so rewarding to see the reaction of tenants and how they're taking advantage of the renovated fitness center, conference center and Mandalay Park, which has everything from a fire pit and open-air kitchen to dining and seating areas, koi pond, a lending library and a walking trail.”

The new Music Factory entertainment district adds 250,000 square feet of retail space, including a concert venue, Alamo Drafthouse, and 25 restaurants and shops. Water Street, a $100 million development on Lake Carolyn that's nearing completion, will add more than 60,000 square feet of restaurants and shops, along with more than 300 apartments.

“I can't say it enough: the Music Factory and Water Street are complete game-changers,” Hedderich said. “Along with the repositioning and rebranding and capital improvements we've done at Mandalay Towers, they're helping us see more than our fair share of leasing activity.”

Rodney Helm and Chris Taylor of Cushman & Wakefield represented Parmenter and oversee leasing of Mandalay Towers.

“We're currently about 80% leased, and we're seeing solid tenant activity on the space that remains available,” Taylor tells GlobeSt.com. “Mandalay Towers is a great fit for any user that wants walkability to a deep base of amenities and housing.”

Although demand has been strong, the competition for full-floor deals or larger has been even stronger, said Helm.