Category: News

Uptown Dallas’ Chateau Plaza gets new name as multi-million-dollar makeover revealed

Posted on by Mia Goulart

An 18-story Uptown Dallas tower has dropped its moniker of more than 30 years as owners begin a multi-million-dollar capital improvement project.

Chateau Plaza will now be called 2515 McKinney to highlight the property’s opportune address in the increasingly popular submarket known for its diverse mix of residential, retail and office spaces. The property is owned by institutional investors advised by J.P. Morgan Global Alternatives.

J.P. Morgan Global Alternatives worked with Stream Realty Partners to reimagine the building’s identity as a complete renovation starts on the lobby, tenant lounge, public corridors and boardroom. A fitness center and outdoor patio also will be added to enhance the tenant experience and attract companies seeking employee-centric office spaces in buildings with modern amenities. Dallas-based Entos Design has been retained to oversee the design and construction, which is expected to wrap up in the fall.

Stream, a national commercial real estate firm offering an integrated platform of services, is headquartered in Dallas and provides leasing and property management services at 2515 McKinney. Managing Director Rhett Miller and Associate Patrick Cruz serve as leasing agents. Blair Miller is the Property Manager.

Chateau Plaza was built in 1985 and last renovated in 2011. The building, with 178,970 square feet, sits on the corner of McKinney Avenue and Fairmont Street, near a host of fast-casual restaurants and popular retail shops that tenants will appreciate. Interstate 35 East, U.S. 75 (Central Expressway), and Woodall Rogers Freeway (Texas Spur 366) are all easily accessible for commuters.

2515 McKinney is home to the privately held, state-chartered financial institution Nexbank; national healthcare strategy and transaction advisory firm VMG Health; and national business advisory company Riveron. The building offers suites from around 1,500 square feet to full floors–including the 13th floor available in November 2023 and the 10th floor available in June 2024–at more than 18,000 square feet. 

Partners Real Estate arranges 19,755-square-foot lease in Houston

Posted on by Mia Goulart

Partners Real Estate recently arranged a 19,755-square-foot lease located at 8430 N. Sam Houston Parkway W in Houston.

Partners’ Travis Land represented the landlord, 8430 North Belt, LLC, in the transaction. Will Austin with Bridge Commercial Real Estate represented Tenant Ocean Edge Services.

Travis Land will be marketing the building next door at 8440 N Sam Houston Pkwy W, which will be available soon.

Partners Real Estate arranges lease with Texas Chiller Systems in San Antonio

Posted on by Mia Goulart

Partners Real Estate recently arranged a 30,493-square foot office lease with Texas Chiller Systems located at 4441 Centergate Street in San Antonio, Texas.

Partners’ Kyle Kennan represented the tenant in the transaction. Colin McLellan with Llano Realty represented the landlord, EDG Centergate, LLC.

Partners Capital sells Blanco Crossing in San Antonio

Posted on by Mia Goulart

Partners Capital, the investment arm of Partners Real Estate (Partners), has sold Blanco Crossing, a 22,606-square-foot retail center located at 19179 Blanco Road in San Antonio. The property was originally acquired by Partners Capital in 2020 through its third investment vehicle.

The buyer was a private investor in San Antonio, Texas. Philip Levy and Jack Newman of Marcus & Millichap represented Partners Capital on the sale.

Partners Capital has completed more than $450 million in transaction volume during the last six years and their current portfolio comprises of more than 1.4 million square feet. Additionally, the Partners Capital team is currently raising capital for Partners Opportunity Fund V—which will be a $150 million equity investment vehicle acquiring value-add industrial, retail, and office properties in Texas and beyond.

Dallas investment fund plans to renovate newly purchased Irving office building

Posted on by Mia Goulart

An Irving office building leased by Stream Realty Partners since 2010 has been sold to a Dallas-based real estate private equity fund.

Reserve Capital Partners, in partnership with Trinity Investors, purchased Crestview Tower at 105 Decker Court from Austin-based CapRidge Partners. The new owner has hired Dallas architectural firm Entos Design to completely reimagine the building’s entry, lobby, fitness center, tenant lounge, and outdoor patio. Reserve Capital’s construction team will oversee the multi-million-dollar renovation featuring design elements such as wood-slatted accent walls and ceilings, modern pendant lighting, and stylized directional wall graphics. Furniture, artwork, carpets, and wallpapers will boast warm, earth-tone colors. The project is expected to take approximately four months once plans are finalized. Financing for the project was provided by Southside Bank Senior Vice President for Commercial Real Estate Jonathan Ferrell.

Reserve Capital will retain Stream, a national commercial real estate firm offering an integrated platform of services, to lease the 12-story building in the booming Las Colinas submarket. Executive Vice President and Partner Tim Terrell and Managing Director Rhett Miller of Stream Dallas serve as the leasing agents.

Crestview Tower was designed to house the headquarters of firms seeking inspiring workspaces. Building amenities include a conference center, on-site property management, 24-hour security, keycard access, fiber internet, and day porters.

Tenants appreciate being within walking distance from 50,000 square feet of retail shops and local and chain restaurants. High-end residential units and hotels also are nearby. The property sits right off State Highway 114 and offers commuters easy access to SH 183 and 161 as well as interstates 35E and 635. Three major transportation hubs–Dallas Fort Worth International Airport, Dallas Love Field Airport, and Addison Airport–are 10 minutes, 15 minutes, and 23 minutes away, respectively.

Crestview Tower is currently 78% leased. The office building has several speculative suites available with high-end finishes and access to full amenities. Rentable office spaces range from 943 square feet to 8,447 square feet.