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News release

DALLAS

Abby Development Announces New Leasing Partner and Upgrades for Uptown Asset

Global design firm Staffelbach selected to design and implement capital improvements


DALLAS, February 6, 2017 – On behalf of Abby Development, JLL today announced the firm has been awarded the exclusive leasing assignment for 3333 Welborn, a four-story office property prominently located in Dallas' popular Uptown area.

The property includes more than 48,000 square feet of rentable office space. Currently, the building offers nearly 30,000 square feet of available office space, including approximately 26,200 square feet of contiguous space. A round of spec suites are in the planning stages and are expected to be delivered later this year.

"We acquired 3333 Welborn in late 2016 and have spent the last several months designing a full scale renovation that will feature best in class amenities," said Abby Development Vice President Mason Green. "In this market, it's rare to find a building that offers a repositioning opportunity of this magnitude in such an incredible location. Our vision is to create a workplace environment unlike any in the market, featuring a full amenity package and ample parking in a boutique, neighborhood office building."

JLL Senior Vice President Blake Shipley and Associate Cullen Donohue will lead the leasing and marketing efforts. Caddo Real Estate Services will handle property management for the building.

"We are excited to partner with Abby Development," says Shipley. "Their investments within the property and the fact that they will be headquartered here demonstrate their commitment to existing and future tenants of 3333 Welborn. We fully expect these capital improvements to elevate this asset within the market."

New amenities and upgrades were designed by global design firm Staffelbach. They include a new rooftop terrace, outdoor workspace and employee bicycle storage, along with a redesigned building exterior, landscaping, fully-upgraded lobby, corridors and restrooms. Improvements are scheduled to begin in March and will be delivered later this year.

Dallas' Uptown submarket remains tight. The submarket has the second lowest vacancy in Dallas through Q4 2016 (13.7%) behind Preston Center (10.2%) due in part to its highly-desirable location and accessibility to walkable amenities.

For more information about 3333 Welborn, please contact Blake Shipley at +1 214 438 6100 or blake.shipley@am.jll.com.

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.  JLL is a Fortune 500 company with, as of December 31, 2015, revenue of $6.0 billion and fee revenue of $5.2 billion, more than 280 corporate offices, operations in over 80 countries and a global workforce of more than 70,000.  On behalf of its clients, the company provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. As of September 30, 2016, its investment management business, LaSalle Investment Management, has $59.7 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.