TriGate Capital is relocating to Comerica Bank Tower. The Dallas-based real estate investment manager will move into 12,121 square feet on the 26th floor of the 1.5-million-square-foot Philip Johnson tower in downtown Dallas.
TriGate and M-M Properties are the joint venture partners that own Comerica Tower. TriGate purchased a 90% stake in the property in October 2015, and has aided M-M Properties with capital for leasing and improvements since 2014. The joint venture’s improvements to the building include renovations to common corridors and restrooms, a seating area and a mosaic by Nicholas Party installed in the Main Street lobby. With TriGate’s lease, Comerica Tower will be 73 percent leased.
M-M Properties’ Mike Silliman and TriGate’s Jeffery Yarckin negotiated the long-term lease.
The move was not by design of any long term strategy. “TriGate moving to the building wasn’t part of our original plan,” M-M Founder and CEO Ken Mozulski said in a statement. “I think [this lease] sends a great message to the market, that [TriGate] thinks this highly of the building and neighborhood that they want to move their people here.”
The move should also bode well for tenants already leased in the building, as Mozulski commented on M-M and TriGate’s “hands-on ownership approach” to managing their tenants’ experiences. Interprise Design is taking the lead on TriGate’s interiors.
