KBS, one of the largest owners and operators of premier commercial real estate buildings in the nation, and Transwestern Real Estate Services (TRS), announced that they have signed 38,501 square feet in lease agreements with two regional firms at Providence Towers, a 524,143-square-foot, LEED Gold-certified Class A office building in Dallas, Texas.
The transactions include a lease expansion with Tower Street Insurance, a Texas-based independent insurance agency—the company is expanding from 5,000 square feet to 24,399 square feet—and a new 14,102-square-foot lease with Fieldwork, a market research services company that is relocating to Providence Towers from another Dallas office building.
The leasing activity demonstrates the ongoing viability of premier office properties in key U.S. markets.
Providence Towers is located at a prestigious business address along the Tollway and has been the chosen place of business for some of the country’s most prominent companies. The 12-story property has been extensively upgraded under KBS ownership, including a complete redesign of the grand east and west tower lobbies, creating luxury entrances.
KBS is currently completing a multi-million-dollar renovation of the property that includes various indoor amenity upgrades. In 2021, the firm completed a completely reimagined tenant lounge and café and is currently underway on renovations for an upgraded fitness center, expanded conferencing facility and elevated common areas. The renovated tenant lounge includes hospitality-inspired amenities such as lounge with a fireplace, collaborative working space, pool tables, shuffleboard and a private dining room. Additional Class A amenities at the property include a wine bar and putting green.
Transwestern’s Kim Brooks, Justin Miller, Scott Walker and Laney Delin represented KBS in the lease negotiations.
Tower Street Insurance’s new lease agreement at the property essentially quintuples its space at Providence Towers.
KBS owns and operates several other Class A office properties in the Dallas market, including 3811 Turtle Creek, Highland Park Place, Legacy Town Center, Preston Commons, Tollway North Office Park, and Sterling Plaza.
Providence Towers is located at 5001 Spring Valley Road in Dallas, Texas.