Skip Ribbon Commands
Skip to main content

News release

Dallas, TX

Long Wharf Capital and Crescent Real Estate announces new strategic leasing partner for West End portfolio

Listings include historic assets and newly announced development


​Dallas, October 24, 2017 – JLL today announced the firm has been awarded the exclusive leasing assignment for the Crescent's West End portfolio on behalf of Long Wharf Capital and Crescent Real Estate.

The West End has evolved into a hot spot for tech tenants in Dallas. With JLL's position as an industry leader in the creative and tech sector, the assignment provides the perfect opportunity to leverage the firm's expertise and recruit more tech and creative companies to the area.

The historic West End properties (501 Elm, 208 N Market, 211 Record and 800 Jackson) total over 250,000 square feet of rentable office space. JLL Vice President Ruth Griggs, Senior Associate Ahnie Sheehy and Senior Associate Ashley Curry will lead the leasing and marketing efforts for these assets.

The recently-announced new development, The Luminary, will encompass 162,710 total square feet of office space upon its completion. JLL Managing Director James Esquivel and Vice President Ruth Griggs will lead leasing and marketing for this property. A groundbreaking is planned for November 1.

"We are thrilled to partner with Long Wharf Capital and Crescent Real Estate for this exciting opportunity," says Esquivel. "It's rare to find an office solution of this magnitude so rich in history, providing best-in-class amenities and in such an incredible location. Their investment within these properties demonstrates a tremendous commitment to the current and future tenants in our historic West End."

The Luminary has 81,711 square feet of contiguous office space available. Architecture firm Corgan recently announced plans to expand its headquarters to the property, leasing an additional 23,268 square feet of the property.

According to JLL Research, rent in downtown Dallas, which includes the CBD and Uptown submarkets, continues to increase with demand. In Q3 2017, the average direct asking price for office space downtown was $30.50 per square foot, a 5.6% increase from the same time last year.


About Crescent

Crescent Real Estate LLC (Crescent) is a real estate operating company and investment advisor, founded by Chairman John C. Goff, with assets under management and investment capacity of more than $4 billion. Through the recently established GP Invitation Fund I, the company acquires, develops and operates all real estate asset classes alongside institutional investors and high net worth clients. Crescent's premier real estate portfolio consists of Class A and creative office, multifamily and hospitality assets located throughout the U.S. including The Ritz-Carlton, Dallas; McKinney & Olive in Dallas; and the wellness lifestyle leader, Canyon Ranch®.

 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the second quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of nearly 80,000. As of June 30, 2017, LaSalle Investment Management had $57.6 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.