New Lease At The Towers A Positive Sign For LBJ Freeway Office Submarket
Property tax consulting firm Cantrell McCulloch entered the LBJ Freeway office market with a 10K SF lease in The Towers at Park Central 7. JLL Q3 Research indicates this could be a sign of the submarket thawing as vacancy declines and companies show interest in setting up shop in the centrally located area of Dallas.
JLL Managing Director Steve Thelen and Vice President Conor McCarthy negotiated the lease for Cantrell McCulloch, which comes as ownership is slated to conduct major renovations on the property soon.
Thelen cites The Towers' central location as one of the primary strategic benefits of the property for Cantrell McCulloch. Q3 data from JLL indicates Cantrell McCulloch is not the only company taking interest in the submarket. It looks like the LBJ Freeway office market is warming up as vacancy slid from 24.2% in Q2 to 23.1% in Q3.