New York-based Fortis Property Group, LLC, a private real estate investment, operating and development company, has purchased Chase Tower in downtown Dallas from Hines, a privately owned global real estate investment firm based in Houston.
The 55-story, 1.3 million square foot tower located at 2200 Ross Avenue is Dallas’ signature skyline building centrally located on 1.5 acres in the city’s central business district fronting the Arts District. Prior to the acquisition, the 1987-era skyscraper was extensively renovated offering tenants distinct amenities.
Fortis’ vision for the future of this landmark property involves additional updating and repositioning. “It is always exciting to acquire a premier and iconic skyline office tower. In line with our strategy to purchase best-in-class properties, Chase Tower represents the best of Downtown Dallas and the Arts District. We anticipate upgrading the Ross Avenue curb appeal and building accessibility as well as the foodservice amenities at the property,” said Jonathan Landau, Fortis chief executive officer.
J.J. Leonard, managing director, and Matthew Wieser, executive vice president of Stream’s office division in Dallas will lead leasing efforts for the property.
“We are honored to have been chosen as the leasing team for one of the most prestigious assets in Dallas,” said J.J. Leonard, managing director at Stream. “Chase Tower is located in the heart of the vibrant Arts District market, and our team is dedicated to capitalizing on the immediate operational efficiencies of this downtown trophy asset on behalf of Fortis.”
Architect Richard Keating designed Chase Tower’s timeless and classic postmodern features, including the easily identified sky window, which is six stories high, 27 feet wide, and 80 feet deep. The Class AA property’s amenities include: Dallas Petroleum Club; multiple conferencing / lounge facilities; first-class fitness center; a concierge in the main lobby; Chase retail banking facility and ATM machine; Starbucks Coffee; free Wi-Fi in the Mezzanine; 24-hour security and rush-hour traffic control; full service car wash; building wide tenant events and Skybridge access to additional services such as the Marriott Hotel and The Plaza of the Americas, among other amenities located throughout the building and in downtown Dallas.
About Fortis Property Group
Fortis Property Group, LLC is a private real estate investment, operating, management and development company headquartered in Brooklyn, NY. Since 2005, Fortis has acquired and/or developed in excess of $3 billion of commercial real estate (over 8 million square feet) throughout the United States. The company focuses primarily on Class A office and multi-family (rental and condo) residential properties, with one-off investments in other asset classes such as retail and industrial.
For more information, visit www.fortispropertygroup.com
About Stream Realty Partners
Stream is a national, commercial real estate firm with locations across the country. Stream’s full-service offerings cover the broad spectrum of leasing, management, development, construction, health care, and investment sales services across the commercial and multifamily industry. In addition, Stream specializes in sourcing acquisition and development opportunities for the firm and its clients. Since its formation in 1996, Stream has grown from its two original partners to a staff of more than 700 real estate professionals nationwide with regional offices in Atlanta; Austin; Charlotte; Chicago; Dallas; Denver; Fort Worth; Houston; San Antonio; Southern California; and, Washington, D.C. Stream currently has more than 130 million square feet of assignments across the nation; completes over $2.4 billion in real estate transactions annually; and is considered one of the most active investors and developers in the real estate industry.
For more information, visit www.streamrealty.com
