Regis Property Management LLC leased over four hundred thousand square feet so far for 2017. These leases were achieved with new and renewing tenants representing over $32 million in gross effective rent.
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Browning Place office complex at Mercer Crossing in Dallas, Texas (Photo: Business Wire)
Regis’s most significant transaction was in Southern Properties Capital asset Browning Place, located in the Mercer Crossing mixed use development. Pacific Union Financial expanded into new space increasing their footprint by over 132,000 square feet. Pacific Union is a full-service mortgage company, located in Irving, Texas, with fulfillment centers in Texas, California, Virginia, and North Carolina and more than 40 branch locations across the country.
Pioneer RX, an industry leading pharmacy software development and support company, also expanded their current lease to include the entire 20,000 square foot top floor of Southern Properties Capital asset 600 Las Colinas. Both deals were brokered by Transwestern and Jones Lang LaSalle. Other new and renewed tenants include Liberty Bankers Life Insurance Company, PBK Architects, CHC Helicopter Services, and NTT Data Consulting.
Scott Porter, President of Regis Property Management, commented, “Regis staff, Transwestern, and JLL continue to work together to create successful leasing strategies for Regis’s commercial portfolio. We’re looking forward to an even busier 2018 and watching Mercer Crossing continue to grow right outside our windows.”
Browning Place office community located at Lyndon B. Johnson Freeway and Luna Road in Northwest Dallas is an office complex with tree-lined boulevards forming the entrance. Browning Place consists of four office buildings with a total of 627,560 square feet with amenities that include a restaurant, bank, on-site Management, 24/7 courtesy officer and jogging trail.
Mercer Crossing is a mixed use development that will include office, single family and multifamily residential, hotel, and retail. There are currently several Class A apartment communities in the area and construction is already under way east of Luna Road for the master planned Ashington, Brighton, and Coventry Communities. Verwood, Windemere, and Amesbury communities will soon follow. Mercer South will also include a 200 room hotel with a restaurant row and boardwalk, trails and parks, retail, and grocery. Builders currently under contract include Beazer Homes, M/I Homes, W3 Luxury Living, Oakdale Homes, Megatel Homes, Sienna Homes, and First Texas Homes.
Southern Properties Capital LTD, a British Virgin Islands corporation (“Southern”) is an indirect subsidiary of Transcontinental Realty Investors Inc., (NYSE: TCI), a Dallas-based real estate investment company. 85% of the company’s properties are located in Texas, where management has intimate familiarity with sub-markets and unique access to off-market deals. Southern is committed to developing and managing multifamily assets in areas with sustainable and viable economic growth; with a focus on Class A HUD eligible assets that further achieve the company’s growth strategy; which includes offering and sale of nonconvertible Series A Bonds with the Tel Aviv Stock Exchange LTD (the “TASE”).
Transcontinental Realty Investors maintains a strong emphasis on creating greater shareholder value through acquisition, financing, operation, developing, and sale of real estate across every geographic region in the United States. A New York Stock Exchange company, Transcontinental is traded under the symbol "TCI". Transcontinental produces revenue through the professional management of apartments, office buildings, warehouses, and retail centers that are "undervalued" or "underperforming" at the time of acquisition. Value is added under Transcontinental ownership, and the properties are repositioned into higher classifications through physical improvements and improved management. Transcontinental also develops new properties, such as luxury apartment homes principally on land it owns or acquires.
Regis Property Management, LLC is an affiliate of Pillar Income Asset Management and currently manages 34 commercial properties comprising in excess of 6 million sq ft. Properties range from office, warehouse, industrial, to shopping centers. Regis was selected to manage the property portfolios for three publicly traded companies as well as several affiliated and nonaffiliated private companies. Our focus is on individual attention, innovation and customer satisfaction, a winning combination for everyone.
Chris Childress, 469-522-4275