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FDIC Dallas

Best of Page One (July 2021)

Take it to the bank: FDIC signs huge downtown Dallas office lease

Dallas Morning News, May 5, 2021

A just-signed office lease is one of downtown Dallas’ largest in the past decade. The Federal Deposit Insurance Corp. has leased a 163,005-square-foot office in the Plaza of the Americas at 600 N. Pearl St. It’s the second huge downtown Dallas office lease in the past month.

“This commitment is fantastic news for downtown Dallas and is indicative of the district’s overall attractiveness,” Kim Brooks of commercial property firm Transwestern said in a statement. “Plaza of the Americas provides a truly unique office experience, with on-site access to numerous dining options, retailers and a hotel in the Dallas Arts District. We continue to see very positive leasing momentum on this project.”

The FDIC is moving out of an office in downtown’s Energy Plaza building on Bryan Street. The lease at Plaza of the Americas follows recent leases there by major tenants Thompson Coe, Saville Dodgen & Co. and Estrada Hinojosa. Built four decades ago and recently remodeled, the Plaza of the Americas includes two office buildings, retail space and a Marriott Hotel. The downtown landmark is owned by M-M Properties in partnership with Clarion Partners.

The FDIC lease was negotiated by Transwestern’s Brooks, Justin Miller, Paul Wittorf and Laney Underwood with Keith Lavey, Victoria Abbasi, Charles Dilks, Matt Johnston, Kurt Stout, Connor Faught, Travis Ewert and Mary Stoner of Colliers International. Transwestern said the lease is one of the five largest made downtown during the past 10 years.

The FDIC lease comes weeks after insurance firm Integrity Marketing Group took about 100,000 square feet of office space in downtown’s Fountain Place tower on Ross Avenue. At the time, it was one of the largest office transactions in North Texas since the beginning of the COVID-19 pandemic. Integrity Marketing Group is moving from the Cypress Waters development northwest of Dallas.

Watergate Point apartments in Annapolis sold for $154 million, name changed to Nautilus Point
Baltimore Sun, June 11, 2021

Six years after it last changed hands, a massive Annapolis apartment complex was sold for $154 million and is getting another name change. Castle Lanterra Properties, a New York investment firm that bought the property in 2015 for $105 million, sold the 608-unit Watergate Point complex on Americana Drive to the California-based investment group TPG Real Estate Partners and The Bainbridge Cos, a Floria based developer and manager of luxury apartment properties.

Radisson Hotel Americas moves HQ to St. Louis Park’s new 10 West End building
Minneapolis Star-Tribune, June 29, 2021

Radisson Hotel Group Americas will move its headquarters next year from Minnetonka into the newly completed 10 West End building in St. Louis Park, officials announced this week. The lease in the Class A office building, located near Interstate 394, was arranged by Transwestern Real Estate Services on behalf of Minneapolis-based Ryan Cos.

336-unit high-end apartment complex coming to Round Rock
KVUE-ABC Austin, July 9, 2021

A new development of high-end apartments is coming to Round Rock. Stanmore Warner Ranch is currently under construction near Interstate 35 at the intersection of State Highway 45 and A.W. Grimes Boulevard. The apartment complex will have 336 units spread across six buildings according to the developer, Stanmore Partners. The real estate development company is partnering with Transwestern Investment Group (TIG) to complete the project.

Transwestern Brokers $10.5 Million Sale of Lakeland Town Center in Lakeland, Florida

Shopping Center Business, June 17, 2021 Transwestern Real Estate Services has brokered the sale of Lakeland Town Center, a 282,949-square-foot shopping center at 917 E. Memorial Blvd. in Lakeland. John Bell and Fred Victor of Transwestern arranged the $10.5 million sale of the property to a private equity firm on behalf of the undisclosed seller.

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