Law Firms Remain Big D Leasing Driver
Downtown Dallas recently recorded an increase in new amenities, class-A office properties under construction and capital improvements to established assets in order to attract and retain tenants.
DALLAS—Law firms are a major driver of activity in downtown Dallas, which has historically served as a hub for professional service industries, thanks to the abundance of top-quality office offerings at competitive rental rates, according to the JLL Law Firm Perspective. The submarket recently recorded an increase in new amenities, class-A office properties under construction and capital improvements to established assets in order to attract and retain tenants.
One of those tenants is Dallas-based law firm Kane Russell Coleman Logan PC. In a long-term multi-floor office lease, the firm is relocating its Dallas headquarters from Thanksgiving Tower to a renovated space of approximately 45,000 square feet in Bank of America Plaza. This office property is located at 901 Main St. in downtown.
JLL managing director Brooke Armstrong, executive vice president Andy Leatherman and associate Maggie Birnbach represented the office tenant. Peloton’s Joel Pustmueller and Russ Johnson represented the landlord, Metropolis Investment Holdings.
“The competition to recruit and retain top talent in Dallas-Fort Worth is fierce for all industries, especially for law firms,” Armstrong tells GlobeSt.com. “Kane Russell Coleman Logan has been extremely thoughtful and strategic in evaluation of their long-term office solution. Bank of America Plaza provides proactive management and a technologically advanced building infrastructure which supports the evolving technology needs of today’s law firms.”
The space’s design and construction consultants include Sheila McCarter and team at Bauhaus Interiors, the commercial interior design team at CallisonRTKL Architects led by Rina Burnett and Mitch Paradise of Stillwater Construction Management.
“Bank of America Plaza allows our firm to not only maintain its commitment to the Dallas CBD, but offer covered parking at above-market parking ratios, dining, wellness and other amenities at significantly enhanced levels to our attorneys, staff and clients,” says Raymond Kane, a founding director of Kane Russell Coleman Logan PC. “Comparable amenities are only found at buildings outside of the Dallas CBD, and at much higher rental rates. We must be able to control our rate structure, to remain competitive and best serve our target clientele. Our move to BofA Plaza allows us to achieve those goals, and at the same time, offer a vastly enhanced experience to all our stakeholders.”