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News release

DALLAS, TX

Low Vacancy Rates Drive Office Leasing Across Dallas-Fort Worth

RM Crowe Selects JLL to Lease and Reposition Six Office Buildings


DALLAS, Sept. 15, 2014 – JLL today announced the firm has been selected by Dallas-based RM Crowe to lease six office properties located in several submarkets throughout Dallas-Fort Worth.  The awarded portfolio includes a variety of Class A and B properties in core and suburban markets that range from 33,000-208,512 square feet.

The six properties, which total a combined 496,053 square feet, are:

  • 5944 Luther Lane in the Preston Center submarket (72,938 square feet)
  • Legacy Bank Plaza at 5000 Legacy Drive in the Far North Dallas submarket (208,512 square feet)
  • Central Park Tower at 2350 Airport Freeway in the HEB/Midcities submarket (101,757 square feet)
  • Texas Moline Building at 302-306 N. Market Street in the CBD submarket (41,558 square feet)
  • 311 N. Market in the Dallas CBD submarket (33,000 square feet)
  • Bedford Place at 1903 Central Drive in the HEB/Midcities submarket (38,288 square feet)

“After a long evaluation of market service providers, we felt that JLL, given its presence and expertise in the local market place, is best situated to enhance the company’s Dallas based assets,” said RM Crowe Senior Vice President Clif Cone.

JLL’s Executive Vice President James Esquivel, Senior Vice President Jay Bailey and Associate Ashley Curry will lead the leasing and marketing efforts on behalf of the ownership.

“RM Crowe has a quality portfolio that features attractive options for the diverse DFW tenant base,” said Bailey. “Our goal is elevate the presence of each building, in its respective submarket, and offer select improvements such as lobby upgrades, improved landscaping, reconditioned creative spaces and signage opportunities.”

According to JLL research, steady demand and lower than normal vacancy rates have put upward pressure on rental rates, which currently average $24.72 per square foot in Class A buildings across the Metroplex.  This trend has prompted tenants to consider options in all of Dallas’ submarkets; and as the office market continues to tighten, the trend is expected to accelerate even as new product is delivered. 

About RM Crowe
R M Crowe Company is a full-service real estate firm. It acquires, develops, manages, and asset manages an array of commercial properties, including hotels, office, industrial, and retail properties. The company offers construction management, property management, financial analysis, leasing, legal, information technology, and engineering services. R M Crowe was founded in 1988 and is based in Dallas, Texas.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $50.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.