Thanksgiving Tower in the midst of $37 million in capital improvements
DALLAS – May 3, 2016 –CBRE has been awarded the office leasing assignment for Thanksgiving Tower, on behalf of landlord Woods Capital Management. The 50-story, 1.4-million-square-foot office tower anchors the Dallas skyline and the downtown Main Street District.
The office tower at 1601 Elm Street is currently undergoing $37 million in infrastructure and amenity upgrades, including $16 million in lobby renovations. Both the north and south lobbies will feature natural stone flooring, architectural LED lighting and new security desks. The existing podium, the structural base of the tower, is being redeveloped to establish a high-end street presence. Other enhancements include the addition of a fitness facility, several ground floor restaurants and a valet service.
Woods Capital has spent the past year replacing the mechanical, electrical, plumbing and safety systems with entirely new infrastructure to maximize efficiency. The final stage of infrastructure upgrades include new “smart” elevator systems maintained by Thyssen Krup Elevator that will allow tenants and visitors to take the elevator directly to their floor with fewer stops.
Thanksgiving Tower’s central location offers easy access to all of Dallas’ major transportation outlets including Woodall Rogers Freeway, the Dallas North Tollway, Central Expressway (I-75), Stemmons Freeway (I-35), and Tom Landry Freeway (I-30), and is one of only 10 Class-A CBD office buildings located within one block of the DART light rail system. The tower is also within walking distance of over 100 restaurants and retail shops, nine hotels, over 5,100 residential units and has direct access to the Dallas-Fort Worth International Airport through the DART Orange Line Station.
“With these dramatic renovations, Thanksgiving Tower will be unmatched in function as the best positioned asset for amenities and for providing tenants with an opportunity to work in one of the most iconic buildings in the Metroplex,” said Dennis Barnes, Senior Vice President with CBRE in Dallas. “Revitalizing this trophy tower will attract and retain top-quality talent for new tenants, now one of the most important goals for an employer.”
Notable tenants at Thanksgiving Tower include Santander Consumer USA Inc.; Gray Reed & McGraw, P.C.; and Kane, Russell, Coleman & Logan, PC.
CBRE is the exclusive office and retail leasing advisor for Thanksgiving Tower, on behalf of Woods Capital Management. Mr. Barnes, Shannon Brown and Alexandra Jennings oversee office leasing; Jack Gosnell and Amy MacLaren oversee retail leasing.
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.