Newmark and E Smith Advisors (ESA) announce Istation’s 50,000-square-foot headquarters lease renewal at landmark high-rise Campbell Centre in Dallas, Texas. Emmitt Smith of ESA was instrumental in facilitating the relationship between Newmark and Istation, and Newmark’s strategic partnership with ESA led to Newmark Executive Managing Director John Wolf and Director Sara Fredericks representing Istation in the renewal. The building owner is Haberman & Haberman.
Located at 8150 North Central Expressway, Campbell Centre’s twin gold towers are iconic fixtures in Dallas for being a pioneer of mirrored glass construction as well as a feature of the opening of the 1978 TV series Dallas. With 50,000 square feet, Istation is the largest tenant within Campbell Centre and one of the largest tenants in the Central Expressway submarket in terms of square feet occupied.
“Because of the tenant’s size and impact on Campbell Centre occupancy, Istation’s decision to evaluate a relocation or renewal was observed closely by the market. This transaction was successful on behalf of our tenant in terms of mitigating increased costs as well as beneficial for the Central Expressway submarket, overall,” said John Wolf. “The transaction illustrates how economics can still outperform amenity packages and allows Istation to increase operational efficiency and continue to innovate on behalf of their client base.”
“Leading Istation through the strategic evaluation of a renewal versus a relocation provided our team the opportunity to creatively explore the decision from every angle to achieve terms that benefitted both tenant and landlord,” added Sara Fredericks. “Personally, my children’s school is a passionate user of Istation technology, so it was a pleasure to represent the interests of such an exceptional organization.”
Founded in 1998, Istation has become one of the nation’s leading providers of richly animated, game-like educational technology. Winner of several national educational technology awards, the Istation program puts more instructional time in the classroom through small-group and collaborative instruction. Istation’s innovative reading, math and Spanish programs immerse students in an engaging and interactive environment and inspire them to learn. Administrators and educators can use Istation to easily track the progress of their students, schools and classrooms. Istation now serves over 4 million students throughout the United States and several countries.
“Witnessing the development and change in the last 20 years of our experience in the educational space, we recognize that now, more than ever, educators need strong partners as demand for educational technology and connection changes and increases,” said Richard Collins, Chairman and Chief Executive Officer of Istation. “The ability to maintain our Dallas headquarters location was important to us, driven by the need for uninterrupted service provided to our educational partners as well the convenience and commuter-friendly location that our employees count on. I knew Sanders Campbell, who developed Campbell Centre, and recognized how careful he was in ensuring the building was the premiere asset in the Dallas’ best location; we are thrilled to continue our tenancy.”
About E Smith Advisors
E Smith Advisors is a premier real estate solutions and services provider that is bringing a new level of integrity, innovation and insight to the commercial real estate industry. In partnership with Newmark, E Smith Advisors is part of a global network with operations in more than 480 offices worldwide. The firm offers an integrated service platform to a diverse portfolio of clients, and as a minority-owned business, inclusivity is always one of our primary goals, both in our service offerings and in our hiring practices. E Smith Advisors is a partnership between E Smith Legacy Holdings and Newmark that combines the entrepreneurial, bespoke approach of a boutique firm with the comprehensive expertise and resources of an international Top 5 firm, to create a global enterprise that operates with a balanced, nuanced perspective. Both E Smith Advisors and Newmark excel at creating customized real estate solutions that take the intricate, unique needs of each client into account, and this shared methodology makes them perfect partners. Our clients are an extension of that partnership, and they are our shared number-one priority. We resolve to forge decades-long relationships based on trust, and reinforced by exceptional, consistent results.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 18,000 professionals operate from approximately 480 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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