Downtown Office Building Along Pacific Plaza Park Signs Slew Of Leases
Republic Center, a 704K SF building in Downtown Dallas, signed 30,500 SF of leases so far this year.
The property's appeal was boosted by the increasing overall appeal of the area, Younger Partners co-founder Kathy Permenter said. She represented property ownership with Younger Partners brokers Trae Anderson and Sarah Savage.
Pacific Plaza Park is being built across the street, adding an amenity for Republic Center tenants, Permenter said. That $15M, 3.4-acre project is adding a park three times larger than Klyde Warren, which has been pivotal in the revitalization of Downtown. Her team inked a deal with the American Institute of Architects and Dallas Center for Architecture for the first and second floor of Republic Center, and they are transforming that space to open up directly into the park.
"It is a game-changer for that part of Downtown and will truly enrich the walkability of the area," she said.
AIA is under construction and will open its 14K SF office, exhibition and meeting space later this summer.
Republic Center is also benefiting from its adjacency to public transportation, and the smaller floor plates there give smaller tenants more prominence, Anderson said.
The new deals at Republic Center, 325 North St. Paul St., are:
- Smith Clinesmith/Clinesmith Law Firm renewed 11K SF, represented by NAI Robert Lynn's Jayson Montoya.
- HealthMark Medical Group expanded to 10K SF, represented by JLL's Conor McCarthy.
- Constellation New Energy leased 6,502 SF, represented by Avison Young's Bret Hefton and Graham Shelby.
- Addison Group (Bridgepoint Consulting) leased 1,594 SF, represented by Kevo Commercial's Nick Gray.
- Phlox Capital Management leased 1,211 SF, represented by Altschuler and Co.'s Oliver Day.
“Republic Center’s occupancy is well above the CBD average and office users are taking notice," Permenter said.