Harwood International reaches 100 percent leased on new acquisition
January 10, 2023
The Luminary is now fully leased with a new Corgan expansion.
Harwood International has announced the lease expansion of architecture and design firm, Corgan, to reach 100 percent leased at The Luminary. Harwood International acquired the building in July of 2021 as a part of its Class A value-add acquisition platform. At the time of acquisition, the occupancy was 67 percent.
Corgan expanded its lease by 17,265 square feet to a total footprint of 98,264 square feet. The lease expansion was completed by Greg Biggs and Randy Cooper with Stream Realty and Harwood International’s Kelly Whaley and Hannah Mesh.
“As Corgan embarks on our 85th year in business, we are thrilled to expand our headquarters at The Luminary to support the overall growth of the firm,” said Scott Ruch, CEO of Corgan. “2022 was an incredible year of development for us both locally and globally, this expansion allows us to keep adding great talent. We appreciate our continued partnership with Harwood in supporting our growing business needs.”
The new lease with Corgan comes shortly after the expansion of ad agency LERMA by 27,959 square feet to a total of 55,918. The LERMA lease was executed in December of 2022.
“The leasing success since July of last year proves that there is continued demand for office space in Dallas,” said Steven Hall, VP of Asset Management for Harwood International. “Our teams have been successful in identifying assets where we can execute our business plan and we are actively seeking more Class A office that meets our criteria.”
Corgan is not just the anchor tenant for the building, but also designed and developed the building in 2019. The lease expansion with Corgan further adds to the developing relationship between the firm and Harwood International. In addition to The Luminary, Corgan is the associate architect on Harwood International’s latest tower, Harwood No. 14.
Looking ahead on the heels of the recent success, Harwood International will continue with more acquisitions in 2023.
“We believe the current market dislocation offers outsized risk-adjusted return for select office opportunities,” said Christopher Cauthen, VP of Acquisitions for Harwood International. “Four decades of experience in the Class AA and Class A office sector uniquely positions us in identifying and creating value in all economic environments.”
Within its flagship development, Harwood District, the firm has continued extensive progress to its master plan development. In addition to the Harwood No. 14 Class AA office tower which recently topped out, the firm recently announced its boutique hotel concept, Hôtel Swexan, the opening of Poco Fiasco, and is actively prospecting tenants for over six million square feet in development opportunity.
Harwood International has announced the acquisition of The Luminary, a 169,005 square foot, Class A office building located at the intersection of Harwood District, Downtown, Arts District, and Victory Park in Dallas.view now