Friday, December 16, 2016

Cushman & Wakefield makes its move in Uptown to Crescent's 'very sexy' tower

Global brokerage firm Cushman & Wakefield has moved into its new Uptown space at the Crescent's McKinney & Olive office and retail tower near The Ritz-Carlton Hotel.

The real estate brokerage firm set up its Dallas office Monday on the 9th and 10th floor of the $225 million tower, which has been called the "very sexy," buildingfor its shapely design.

"We are excited to have them in the building," John Zogg, managing director of Fort Worth-based Crescent Real Estate Equities LLC, told the Dallas Business Journal.

"Their space looks amazing and they are a great addition to our customer list," Zogg told me. "We have done an enormous amount of business with them and I see that continuing into the future."

The new Uptown office, which totals nearly 41,000 square feet, will give Cushman & Wakefield a high-profile office to grow its North Texas operations in a competitive industry.

The firm — led by market leader Ran Holman — is one of the top real estate brokerage firms in Dallas-Fort Worth.

Cushman & Wakefield was looking for a new Dallas office on the heels of a $2 billion merger between the brokerage firm and DTZ that brought the firm's two Dallas office operations under one entity, which is operating in the United States under the Cushman & Wakefield name.

The firm shopped for real estate in Dallas for a few months before landing at McKinney & Olive in May. The new office will be used to consolidate the two firm's former Dallas offices (at Rosewood Court in Uptown and Sherry Lane Place in Preston Center) under one roof.

At the time of the deal, Holman said, "This type of space located in an energetic, mixed-use environment will benefit us as Cushman & Wakefield continues its expansion in North Texas."

The deal helped bring McKinney & Olive's occupancy rate to 93 percent before developer John Goff recently hosted a grand opening for the building.
Zogg said he expects the remaining office floors in the building — the 2nd and 3rd floor of the 20-story tower — to lease up quickly early next year.