Friday, May 01, 2009

Real estate briefs

Jones Lang LaSalle
consolidates offices

International real estate service firm Jones Lang LaSalle has consolidated its Dallas operations into a just-completed office building at 8343 Douglas Ave. in the Preston Center business district.

Jones Lang LaSalle inherited the space last year when it bought the Staubach Co. The combined firms will now occupy 71,747 square feet on four floors of the seven-story building. More than 220 Jones Lang LaSalle workers are making the move.

"When Jones Lang LaSalle and the Staubach Co. merged in 2008, we knew it would be critical for everyone to be under the same roof to maintain the highest-quality service for our local and national clients," said Paul Whitman, president of the firm's North Texas operations.

Lincoln Property developed the Jones Lang LaSalle building, which is the first new office project in Preston Center in a decade.

2 D-FW executives join
real estate hall of fame

Two local executives are receiving the North Texas Commercial Association of Realtors' highest award.

Lucy Billingsley and Jesse Pruitt are joining the D-FW Commercial Real Estate Hall of Fame.

Billingsley developed downtown's One Arts Plaza building and the Austin Ranch project in Carrollton. Pruitt is a partner at CMC Commercial Real Estate Group and an alum of Vantage Cos.

Along with Billingsley and Pruitt, the association will honor longtime Dallas real estate broker J. Reagan Dixon with its Michael F. McAuley Lifetime Achievement Award at a ceremony May 7.

Old Town center
gets new leasing rep

One of Dallas' best-known shopping centers is getting a new leasing rep. Dallas-based Weitzman Group said Thursday that it's taking over leasing of Old Town center at Greenville Avenue and Lovers Lane. The 265,233-square-foot shopping center, which opened in the 1970s, has been significantly redeveloped in the last decade and now has anchor tenants including Borders, World Market, Michaels and PetSmart.

A California company, Westwood Financial Corp., has owned the open-air retail complex since 2004. Weitzman is also taking over the leasing of Westwood's Three Way Central shopping center at Greenville and Southwestern Boulevard. The retail brokerage company now represents seven Westwood projects in the Dallas area.

Weitzman Group founder Herbert Weitzman directed the original leasing of Old Town when it opened 39 years ago.
By Steve Brown