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New Lease Signings Bring TX Office Complex to 85% Leased

2/13/20

Three new tenants, Teknion Data, Informa and Abeam Consulting, have inked leases totaling over 50k sf of office space at Urban Towers, a Class AA office complex in Irving, TX. The deals have a combined value of more than $20 mil.

In addition, Verizon subsidiary, Terremark, renewed its space for 22.2k sf. With these latest transactions, the office complex is now 85% leased.

Urban Towers, comprised of two high-rise office towers spanning more than 850k sf, is owned by San Diego-based Parallel Capital Partners Inc, who acquired the asset in 2013. Urban Towers was recently LEED Gold Certified by the U.S. Green Building Council. The concrete and steel mirrored glass office complex is situated on 11.2 acres in Las Colinas a premier business district and master-planned community just 10 minutes from Dallas.

Built in 1982 and 1984, the buildings encompass the 22-story North Tower and 17-story East Tower and include a five- and a seven-story parking structure. With a striking glass clad exterior, the complex holds an Energy Star rating of 91.

The tenants include:

Informa new tenant, leased 23.4k sf
Teknion Data Solutions new tenant, leased 17.2k sf
Abeam Consulting (USA) Ltd new tenant, leased 10.7k sf
Terremark (a subsidiary of Verizon) existing tenant, renewed 22.2k sf

Urban Towers is located within the popular urban center of Las Colinas, a live, work, play destination. The master-planned center features apartments more than 7,500 built and 1,200 under construction top-rated resorts, a convention center, restaurants, entertainment, work spaces and outdoor trails all centered around the 125-acre Lake Carolyn. In 2017 Toyota Music Factory completed a $175 mil entertainment destination operated by Live Nation.






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