DALLAS, Texas (September 12, 2023) – KBS, one of the largest owners and operators of premier commercial real estate buildings in the nation, announces that it has signed a 15,099 square foot lease agreement with Brunswick Group, a global advisory firm at 3811 Turtle Creek, a 21-story, 300,961 square-foot Class A office tower located in Dallas, Texas.
The transaction represents the presence of improving leasing fundamentals in the Dallas-Fort Worth market, according to Giovanni Cordoves, Regional President, Western U.S.
“Despite challenges in increasing interest rates and the cost of capital expedentiures, KBS continues to see promise in the Dallas office market. 3811 Turtle Creek offers Brunswick Group the ability to lease new office space in the area that accommodates their recent growth as well as their future anticipated growth,” says Cordoves. “While summer vacations and storms have impeded some of the progress, the Dallas metro area continues to be one of the leading metro areas in the country in returning employees to the office, at times topping more than 60%, according to the Kastle Return to Office Barometer. This combined with a limited construction pipeline, point to an ongoing recovery for Dallas’ top-tier office properties in the near future.”
The property offers spectacular views of downtown Dallas, Turtle Creek and the Park Cities. It is connected to Turtle Creek Village which offers a 22,000-square-foot grocery store and 100,000 square feet of restaurant and entertainment-themed retail space. 3811 Turtle Creek is a LEED Gold-certified, Energy Star-rated, WiredScore Gold building that has achieved a BOMA 360 Performance rating. The asset is located within blocks of downtown Dallas’ West Village, which includes 275,000 square feet of restaurants and pedestrian-friendly retail. First-class amenities at the property include a newly renovated lobby, corridors, gym and deli; new contemporary spec suites; a tenant wine bar and game room with wine lockers; and outdoor patio with fire pits. Additional common amenities include a conference center, event facilities, a free bike-sharing program, and on-site car wash/detailing.
“We were pleased to work with Brunswick Group and welcome them to 3811 Turtle Creek’s prestigious location which offers supreme amenities, and stellar service,” says Brett Merz, asset manager for 3811 Turtle Creek and senior vice president of KBS. “As a company, we approach sustainability with transparent and measurable goals and 3811 Turtle Creek is no exception. With its multiple green features, this property offers tenants excellent walkability, a unique design, and an unparalleled tenant experience.”
Kim Brooks, Justin Miller and Scott Walker with Transwestern Real Estate Services represented KBS in the transaction.
Jihane A. Boury, vice chairman at Savills, represented Brunswick Group in the leasing transaction.
“Brunswick Group’s move to 3811 Turtle Creek will allow them to have a full floor with great views of the beautiful Dallas skyline,” says Boury. “We are excited to have found them a location that serves their Dallas office needs.”
Please find photos of the property here.
