Stream Realty Partners (Stream) and J.P. Morgan Asset Management announced that Baker Botts L.L.P., a leading international law firm, renewed its 104,179-square-foot office lease at Trammell Crow Center located at 2001 Ross Avenue in downtown Dallas. Baker Botts is in the early stages with plans to rebuild its entire space. Institutional investors advised by J.P. Morgan Asset Management own the iconic tower.
Stream’s Ramsey March, Sara Terry, and Scott Sowanick represented Trammell Crow Center, while Phil Puckett and Harlan Davis of CBRE represented Baker Botts in the lease negotiations.
“Baker Botts is a prized office tenant by any measure, but this transaction is particularly meaningful given that they are an original tenant of Trammell Crow Center,” said Ramsey March, managing director at Stream. “The firm’s long-term commitment sends a strong message about the future of the building and Ross Avenue. We look forward to watching them transform their office space as we transform the building around them.”
In addition to Baker Botts’ plans for its space, Stream and J.P. Morgan Asset Managementrecently unveiled the renovation and expansion plan for Trammell Crow Center and the 2.66-acre site located directly south of the prominent 50-story tower. The capital improvements include expanded retail space, a modernized lobby, and significant enhancements to the building’s lower exterior and plaza. The adjacent site to the tower will be anchored by more than 26,000 square feet of restaurant-driven retail space and a parking facility offering a parking ratio of 3:1000 square feet.
“Downtown Dallas and the Arts District are evolving and we want to continue to be at the forefront of that change,” said Tim Durst, partner in charge of Baker Botts’ Dallas office. “Lawyers are attracted to high-quality and agile work environments. Our new office design, together with Trammell Crow Center’s planned redesign, underscores our commitment to providing workspace that matches the quality of our clients and our people. Plus, there simply is no beating TCC’s location” added Durst.
Today, the firm’s 725 lawyers serve leading industries, organizations and individuals, while staying at the forefront of emerging technologies in 14 global offices.
“We are creating space within Trammell Crow Center that emphasizes connectivity, not just ‘coming and going from the office’,” said Sara Terry, vice president at Stream. “The building’s renovation and expansion will involve increased amenities and dining choices, along with substantial smart technology that will be integrated throughout the project to enhance the tenant experience.”
Construction on Trammell Crow Center and the mixed-use project will commence in March of 2017 with completion anticipated in the fall of 2018.
About Baker Botts L.L.P.
Baker Botts is an international law firm of approximately 725 lawyers practicing throughout a network of 14 offices around the globe. Based on our experience and knowledge of our clients’ industries, we are recognized as a leading firm in the energy and technology sectors. Throughout our 176-year history, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit BakerBotts.com.
About J.P. Morgan Asset Management – Global Real Assets
J.P. Morgan Asset Management – Global Real Assets has more than $96 billion in assets under management and more than 400 professionals in 20 offices throughout the Americas, Europe and Asia Pacific, as of December 31, 2016. With a 45-plus year history of successful investing, J.P. Morgan Asset Management – Global Real Assets’ broad capabilities provide many of the world’s most sophisticated investors with a global platform of real estate, infrastructure and transportation strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions. For more information:www.streamrealty.com.
