[Photo: Crescent Real Estate]
The Crescent—a 1.3 million-square-foot postmodern office, hotel, and retail complex in Uptown Dallas—has renewed four leases and completed several new ones as the city continues to navigate the future of office.
For The Crescent, that future lies both in retaining its current high-profile tenants and attracting new ones, including those behind the 81,860 square feet of total leases announced today.
Four new tenants include:
Maraboyina Capital, which signed a new spec suite lease for 1,474 square feet in The Crescent’s 300 Building. Founded by Executive Producer Suraj Maraboyina, Maraboyina is a Dallas-based alternative asset investment firm specializing in film, TV, and media tech investments. Film projects it has helped finance include SONY’s 2021 film “Ghostbusters: Afterlife,” which starred Bill Murray, Dan Aykroyd, and other members of the franchise’s original cast; Netflix’s upcoming movie “Monkey Man,” featuring and directed by “Slumdog Millionaire” star Dev Patel; and TV projects including TNT’s NBA docuseries “The Pathway.”
Atalaya Capital Management LP, which signed a new spec suite lease for 4,497 square feet, also in Building 300. Atalaya is a privately held alternative investment advisory firm focused primarily on making private credit and special opportunities investments. Broker Charlie Beck of Cushman & Wakefield represented Atalaya on the lease.
Child Care Investments, LLC, which signed a new lease for 4,915 square feet in Building 500. CCI owns and operates 18 child-care centers in Texas. Founded in 2009, it has over 400 employees and takes care of over 2,500 children per day.
Stonegate Capital Partners, Inc., which signed a new lease for 1,960 square feet in Building 500. Stonegate is a leading advisory firm founded in 1972. It specializes in capital markets advisory, focusing on institutional investor outreach for publicly traded companies. Broker Duane Henley of Newmark represented Stonegate.
Three companies accounted for four renewed leases:
UBS renewed two leases for a total of 41,857 square feet in Buildings 100 and 200. UBS is a global wealth manager that provides financial advice and solutions to wealthy, institutional, and corporate clients worldwide. Brokers Robbie Baty and Mike Wyatt of Cushman & Wakefield represented UBS Financial Services.
JPMorgan Chase bank renewed its lease for 22,534 square feet in Building 300. JPMorgan Chase bank provides investment and banking services and offers wealth planning, investing, credit, and other financial services to clients worldwide.
Paragon Associates renewed its lease for 4,623 square feet in Building 500. Paragon is a Dallas-based investment fund based.
“The eight leases are a juxtaposition of renewals of long-time customers and new leases with the twist of move-in-ready spec suites that have proved to be very successful,” said Tony Click, VP of Leasing for Crescent Real Estate LLC, in a statement.
The 10-acre Crescent complex was designed by Philip Johnson and John Burgee and was completed in 1986. Its three connected office towers and office space in the atrium building are all surrounded by outdoor gathering spaces and the five-star luxury Hotel Crescent Court and Spa. Restaurants at The Crescent include The Capital Grille, Sixty Vines, Moxie’s Grill & Bar, Nobu, The Crescent Club, and more.
Four spec suites remain available at the development, Crescent Real Estate LLC said in the statement.
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Source: dallasinnovates.com
