Why this real estate brokerage firm decided to head downtown to one of Dallas’ tallest skyscrapers

streamrealtyDALLAS, IN THE NEWS

Global real estate brokerage firm Savills Studley plans to relocate its growing North Texas home base in one of Dallas’ tallest skyscrapers, which will help it cover a massive region as it recruits top talent into its ranks.

The brokerage firm, which is a division of London-based Savills PLC (SVS.L), has signed a lease for 8,100 square feet, or the entire 48th floor of Chase Tower at 2200 Ross Avenue in downtown Dallas.

“Like the North Texas office market and broader economy, the roster of talented professionals and transaction activity within our firm’s Dallas office has experienced significant growth in recent years,” said Frank McCafferty, executive managing director and the co-branch manager of the firm’s Dallas office.

“Our new space in Chase Tower will provide an expanded and more collaborative work environment for our employees, and is at a strategic location in close proximity to a wide range of businesses, trophy assets and developments contributing to the region’s continued growth story,” McCafferty added.

The decision to relocate its North Dallas offices along the Dallas North Tollway to the city’s central business district within one of Dallas’ tallest towers come on the heels of a multimillion-dollar upgrade by New York-based Fortis Property Group LLC.

Last August, Fortis Property Group acquired Chase Tower for an estimated $300 million from Houston-based Hines.

The 55-story, 1.3 million-square-foot office tower received updated amenities for office tenants in a resurgent part of Dallas along Ross Avenue. Those amenities, as well as Chase Tower’s proximity to the Dallas Arts District and Uptown, will help Savills Studley recruit top real estate talent, McCafferty said.

By locating the office on an entire floor within Chase Tower in an open floorplan, McCafferty said the new interior design will lead to greater collaboration within the firm. Currently, Savills Studley is located in a traditional office with a long hallway that seemingly cuts employees off from one another, he added.

The new space will also increase Savills Studley’s footprint by 15 percent, with the ability to increase the firm’s headcount by 30 percent with the increased efficiencies.

DLR Staffelbach is the project architect for the office. Savills Studley plans to move into its new Dallas home next February upon completion of the project.

The firm represented itself in the real estate search. Dallas-based Stream Realty Partners represented Fortis Property Group in the deal.

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By: Candice Carlisle
Source: Dallas Business Journal