Ross Tower in Downtown Dallas Inks New Tenant
Grant Thornton LLP will occupy an entire floor at the office building.
Bandera Ventures has secured a new tenant at Ross Tower, a 1.1 million-square-foot office building in the Dallas CBD. Grant Thornton LLP signed a 24,600-square-foot lease and will occupy an entire floor at the 45-story high-rise. The company will relocate from Comerica Bank Tower to Ross Tower at the beginning of 2023.
Cushman & Wakefield represented Grant Thornton LLP in the lease negotiations, while HPI Real Estate Services & Investments worked on behalf of the landlord.
Ross Tower encompasses a total of 905,694 square feet of usable office space, with 26,006-square-foot floor plates, and 25,000 square feet of retail, according to CommercialEdge data. Tenants at the tower include Frank Recruitment Group, Scheef & Stone, U.S. Department of the Treasury and Perkins Coie.
Located at 500 N. Akard St., the office building is in downtown Dallas, surrounded by several retail, dining, entertainment and transportation options. The John F. Kennedy Memorial Plaza is less than a mile southwest of the office tower. The LEED-Gold Certified property was originally completed in 1984 but went through a cosmetic renovation in 2009.
In March, office vacancy across the Metroplex climbed 20 basis points month-over-month, reaching 17.3 percent, CommercialEdge data shows. At the same time, the national average vacancy rate also rose 20 basis points reaching 15.9 percent. In April, Houlihan Lokey inked a deal to occupy 74,805 square feet at The Link at Uptown in Uptown Dallas.
