Fults Secures 2M-SF Office Leasing Assignment

By Amy Wolff Sorter / GlobeSt.com Commercial Real Estate News and Property Resource

January 16, 2009

DALLAS-A little more than four months after leaving Cushman & Wakefield of Texas Inc. to start his own business, Tracy Fults of Fults Commercial has been awarded the leasing assignment for the 1.5-million-square-foot Comerica Bank Tower. Fults' plan is to boost occupancy of the 82%-occupied, class A CBD office building. "Our plans are to bring this to 90% leased as soon as possible, hopefully within the next 12 months," says Fults about the asset at 1717 Main St. Fults describes the current roll as healthy, with a lot of long-term tenants. The roster includes Comerica Bank, Andrews Kurth, K&L Gates, TM Advertising, and ORIX.

Fults tells GlobeSt.com that building owner Metropolitan Real Estate Investors LLC approached him to take on the leasing, as he'd had the leasing with Don Dowell while at Cushman & Wakefield of Texas Inc. "Don and I had worked well in the past for that building, so the owner asked us to get back together to continue working on leasing it," Fults says. To that end, Dowell has joined Fults in his endeavor, and both men will work toward leasing up the building in what Fults calls the "old-fashioned way." "We'll start talking to tenants and letting them know we're here," he says. Fults says he'll be aided in his quest with a new restaurant, Dallas Chop House. which is being built out over 5,700 square feet in the building. Mike Hogue, successful owner of the Dallas Fish Market, has taken the reigns of the Dallas Chop House, which will open in June 2009. In the meantime, Fults is working toward expanding his company, saying he'll have a new broker on board in the next couple of weeks. "I'm interviewing every day," he says. "With the changing economy, there's a lot of movement, so I'm fortunate in having some good people to hire."  

Fults Commercial, LLC. | 12222 Merit Drive, Suite 150, Dallas, Texas 75251 | 972.503.5100 | fults.com