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Commercial Real Estate

CRE Briefs: Sam Moon Group’s Latest Hotel Sets Summer Opening

Plus: EYP architecture firm vacates long-time Uptown office, Florida software firm Optym moves HQ to Coppell, and industrial construction continues to flourish in DFW.
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Sam Moon Group is set to open its newest hotel, the Hyatt Regency Frisco, at Stonerbriar Centre, this summer.

The hotel’s owner and developer entered into a public-private partnership with the City of Frisco to reinvest in and enhance Stonebriar Centre, which has long been considered Frisco’s first economic engine. Sam Moon Group, which began as a family wholesale and retail business, has extended its reach to real estate with a portfolio including Class A shopping centers, hotels and conference centers, mixed-use developments, and a golf course.

Brasfield & Gorrie served as contractor for the project; HKS was the architect, and Looney & Associates managed the interior designs.

The 18-story hotel has 303 rooms, two restaurants, and a 27,500 square foot conference center. A 3,000 square foot satellite Frisco Public Library which will be accessible to hotel visitors and city residents.

Rendering of EYP’s new lobby in Ross Tower.
Uptown Architecture Firm Heads Downtown

Architecture firm EYP is moving from its Uptown office to a new space in downtown. The firm has been in uptown since 2004 (previously named WHR Architects).

While EYP’s new space in Ross Tower will roughly be about the same as its former McKinney Avenue address, Managing Principal Cody Cartusciello says he sees it as a growth move for the firm.

The new office, which recently underwent about $750,000 in renovations, will be a mix of open and closed collaboration spaces, each furnished to support a variety of tasks, gives staff the ability to choose what space best suits their programming requirements, technology or equipment needs, or even mood, said Senior Designer Nate Meade.

EYP is pursuing both LEED and Fitwel certifications in the new space.

“We picked Ross tower for a number of reasons, chiefly the access to public transportation, central location for our staff commenting from all over the metroplex, secure parking, adjacency to the arts district, and building amenities,” said Cartusciello.

Industrial Construction Continues in Dallas-Fort Worth Despite COVID-19

Despite economic disruptions caused by COVID-19, industrial construction is continuing in Dallas-Fort Worth and the majority of major U.S. markets, according to a new CBRE report.

Dallas-Fort Worth led the country with more than 23 million square feet of industrial space under construction at the end of 2019. As of the end of Q1, that number had increased slightly to 23,870,251 square feet of DFW industrial projects in the construction pipeline with a pre-leased rate of 19.3 percent. DFW also had the nation’s highest absorption of industrial space in Q1, 6.2 million square feet, showing the demand for industrial space in DFW had not let up.

To download the report, click here.

Florida Software Firm Moves Global Headquarters to Cypress Waters

Optym has signed a lease in the latest office building currently under construction at Cypress Waters. They will occupy 17,327 square feet on 3401 Olympus Boulevard, a 201,000 square foot multi-tenant building.

Optym is a software company that develops optimization intelligence solutions for companies to reduce their operational costs, drive efficiencies, increase their profitability, and improve service quality. They are currently located in Gainesville, Florida, and will be moving their global headquarters to Cypress Waters. Optym’s target move-in date is August 2020. The new space will accommodate 90 team members.

Christopher Fleeger at Morrow Hill represented Optym in its real estate search.  Marijke Lantz represented Billingsley Company.

SRS Real Estate Partners Welcomes Associate in Dallas-Fort Worth Office

Kaylyn Murray has joined SRS Real Estate Partners with a focus on tenant and landlord representation.

Murray joins SRS, having just graduated from school this past December. Her introduction to the retail real estate industry came through an internship with The Retail Connection, where she assisted with daily tasks, including updating deal tracking programs, property books, and presentations.

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