Dallas-based Quadrant Investment Properties (QIP) has acquired Saint Paul Place, a twenty‐two story, 273,217 square‐foot office building located on the corner of Ross Avenue and Saint Paul Street in the Dallas Arts District. The building is currently 78% leased to a diverse roster of small to mid‐sized tenants including D‐Magazine, Crowe Horwath and Sendero Business Systems. This is the seventh acquisition for QIP.
“Saint Paul Place has always been one of our favorite buildings. We could not be more excited to have the opportunity to own it, especially at a time when the Arts District is experiencing so much momentum,” said QIP founder Chad Cook. “The smaller floor plates and location one block from Klyde Warren Park differentiate the building from most of its competition and offers an experience unique for smaller tenants. It is hard to find buildings with this much character and such a strong, diverse tenant base.”
QIP plans to implement several improvements including lobby amenity upgrades and a tenant conference center and lounge that will include a balcony overlooking the Dallas Museum of Arts sculpture garden. The new ownership will also upgrade numerous corridors and implement a building‐wide spec suite program.
“Saint Paul Place is a trophy office asset located in the middle of Dallas’ urban markets, the CBD and Uptown”, said Nick Cassavechia, Vice President of QIP. “The young talent moving to and living in this area is an important factor in current and prospective tenant’s site selection, and we feel Saint Paul Place is positioned well for this demand.”