Blackstone company Revantage puts new Dallas office in tower near McKinney Avenue.
An Uptown Dallas office building that won’t open for another year has already landed its second major tenant.
Dallas’ Stream Realty Partners is building The Quad, a 12-story tower at Howell and Routh streets near McKinney Avenue. The 335,000-square-foot office building is part of the $100 million redevelopment of the landmark Quadrangle shopping center, which was built in the 1960s.
Stream Realty is revamping the property to include the office tower and new retail.
Revantage, a global real estate services company owned by Blackstone, is locating a new Dallas office at The Quad. Last fall, the company said it would employ at least 160 people in the office. Revantage is taking 32,000 square feet in the building.
“The talent pool and infrastructure that Dallas offers makes it an ideal location for Revantage to expand its footprint,” Rob Harper, Blackstone’s head of real estate asset management in the Americas, said in a statement. “We look forward to Revantage being a positive and active member of the community for years to come.”
The company shopped multiple office locations, including space in the 23Springs building under construction in Uptown, the East Quarter development downtown, Victory Park and the Epic development in Deep Ellum.
Revantage is based in Chicago and has other offices in Europe and Singapore.
“Revantage supports thousands of assets and billions in total enterprise value for Blackstone real estate portfolio companies and our partners,” according to the company.
Stream Realty’s Ryan Evanich and Marissa Parkin negotiated The Quad lease with Jon McNeil, Torrey Littlejohn and Christy Rhea of Jones Lang LaSalle.
“The Quad is the perfect fit for our employees with its best-in-class sustainability, smart building features, and its state-of-the-art amenities,” Matt DeMonte, Revantage’s global head and CEO, said in a statement. “Expanding our team within a dynamic talent market, particularly in technology and finance, is an exciting and strategic next step for Revantage. We look forward to being part of this great community.”
Revantage joins Chicago Title as the first tenants in The Quad tower, which opens in the first quarter of 2024. Chicago Title will occupy 20,000 square feet of office space in the new building.
“The Quad’s state-of-the-art features and easily walkable location will cultivate a greater sense of purpose for Revantage’s employees while setting a new standard in Dallas,” Stream Realty executive managing director and partner Ramsey March said.
While demand for office space has softened since the pandemic, leasing in the newest Uptown buildings has remained strong over the last few years.
That’s why developers are busy putting up new office projects to meet what they expect to be continued leasing in the area north of downtown.