After almost a year of construction, work crews revamping downtown Dallas’ landmark Trammell Crow Center are in a race toward the finish line.
The $140 million redo of the Ross Avenue skyscraper will be mostly done by the end of the year. The project — by owner JP Morgan Asset Management and Stream Realty Partners — is the most elaborate renovation yet of one of downtown’s iconic 1980s towers.
“We are excited because we are getting close to the end,” Stream Realty Partners’ managing director Ramsey March said giving a tour of the project. “The response from the market has already been strong. We have more prospects and proposals than the space we have left.”
Stream still has to fill a 175,000-square-foot block of space in the building being left vacant with accounting firm PriceWaterhouseCooper’s move to the new Park District tower in Uptown.
But since starting the high-rise renovation last year, new office tenants including Goldman Sachs, coworking firm Common Desk and other companies have taken large blocks of space in the Trammell Crow Center.
Quoted rents in the building have increased from near $25 per square foot to more than $30 per square foot. That’s still cheaper than in nearby Uptown where new office space can top $50 per square foot.
By: Steve Brown
SOURCE: Dallas Morning News
Digital rendering courtesy of Neoscape, Inc. 2016