Stream Realty Tapped to Lease 570 KSF in Dallas

Stream Realty Partners has been appointed as exclusive leasing broker and manager of two office buildings totaling 570,368 square feet in Dallas. Charter Holdings owns the pair of Class A towers, dubbed Founders Square and 10000 NCX.

The company picked up the first property in March 2023 from seller Fidelity Commercial, roughly two years after the purchase of 10000 NCX back in 2021, from Westdale Real Estate Investment and Management. Stream Realty’s team of Managing Director Rhett Miller and Analyst Sam Bass will handle leasing efforts.

Founders Square is a 274,010-square-foot historic landmark at 900 Jackson St., in Dallas’ CBD. Originally built in 1914 as a warehouse for dry goods company Higginbotham-Bailey-Logan Co., the property was converted to office use in 1984. The seven-story structure features 35,514-square-foot floor plates, four passenger elevators, 3,964 square feet of retail space and 375 covered parking spots, according to CommercialEdge.

Amenities at the landmark include a skylit atrium-style lobby, an on-site deli, a conferencing facility, security systems, a newly renovated parking garage and on-site property management. The tenant roster at Founders Square comprises Fidelity Commercial Realty Management Company, Paragon Digital Imaging Co., Knox & Associates Real Estate Brokers and Burns Charest, according to the same source.

Plans for future upgrades

Located at 10000 N. Central Expressway, the 296,358-square-foot, 15-story 10000 NCX high-rise features 21,500-square-foot floor plates, nine passenger elevators, first-floor retail space and 889 covered parking spots, CommercialEdge shows.

Built in 1986, the property’s amenity package comprises a conference center, a common-area lounge, a deli, on-site security services, a fitness center with locker room and an on-site café. Tenants at the property include Advancial Federal Credit Union, SAIF International Group, Atlas Wealth Advisors and Partners National Real Estate Group, among others, the same source reveals.

Charter Holdings is currently planning substantial renovations for both properties. For Founders Square, the owner is looking for capital expenditures for upgrading the building in 2024 and beyond, while at 10000 NCX renovations will be focused on the lobby and the addition of an extensive spec suite program.

Deals signed in 2024

As of January, the average listing rate in Dallas stood at $26.49 per square foot, among the lowest in the South, according to a recent CommercialEdge report. The metro’s vacancy rate reached 19.7 percent, slightly higher than the national figure at 18 percent.

Recent leasing agreements in the metro include Property Advisers Realty’s 45,098-square-foot deal at The Madison, a 288,000-square-foot Class A office building in Addison, Texas. The tenant, CheckSammy, expanded its footprint with 22,549 square feet.

In January, Deloitte signed a long-term lease for more than 100,000 square feet at 23Springs, a 626,215-square-foot office development. The 26-story building is being developed by a joint venture between granite Properties and Highwoods Properties, with completion scheduled for March 2025.