Las Colinas Towers I & II were the first buildings built in the Urban Center of Las Colinas and were home to several Fortune 100 companies – in fact, it was Exxon’s corporate headquarters for some time.

The prior owner had ceased reinvesting capital into the buildings, which significantly hampered leasing activity.  In addition, significant deferred maintenance issues accumulated over the years. The building’s reputation in the market was of a tired old building, and one where the owner could not invest funds to build out tenant spaces.

Parmenter’s vision was to renovate the common areas of Las Colinas Tower I, upgrade the existing plaza area between the two towers, and institute a focused marketing plan to reintroduce these assets into the leasing market.

Lobby
Before
The elevators in Tower I were dark and uninviting and its common areas were tired and finished with inferior quality materials. Tower II underwent a renovation to its lobby several years prior, but the elevators were left untouched and there were numerous areas where walk-up appeal was underwhelming.

After
The lobby of Tower I was completely rebuilt to bring in warmer tones, wood features, new higher-quality elevator finishes of granite and glass, and new furnishings.  Both Towers had the entrances from the garage to the lobbies improved to create a sense of arrival for tenants and visitors, and common area carpet was replaced.  

Exterior
Before
The exterior of Tower I needed significant repair to the concrete panels to prevent water infiltration.  But perhaps the area with the most potential to create a “wow factor” was the plaza between the buildings.  It had been allowed to fall into disrepair both structurally and cosmetically, and although it was a unique feature that no other building in the market could offer, it was not being utilized to its full potential.

After
The overgrown plaza landscaping was removed and replaced with softer, more appropriate materials, several steel trellises were built to create areas of visual interest, and large, colorful shade structures and tables were placed on the plaza to make the area more usable.  Wi-Fi was introduced so the tenants could enjoy the outdoors with their laptops if they desired.  The plaza is now full of life and color, and a great draw for tenants to the building. 

Common Areas
Before
There were virtually no building amenities; a “must” for successfully competing in the Urban Center market.  Furthermore, the upper floor common areas were tired and the restrooms had been marginally upgraded to accommodate ADA, but were not cosmetically in-line with other Class A office buildings.

After
We created a 3,600 s.f. workout facility with showers and a 2,200 s.f., 80 person conference room in essentially unleaseable space. The upper floors were renovated with new finishes and the restrooms updated to Class A finishes of granite, stainless steel partitions and touchless hardware. Speculative suites were created out of shell space allowing a small tenant to move quickly to occupy our spaces. 

Mechanical
Before
The elevators in Tower II were original and in need of a modernization.  Both buildings were in need of new roofs and both cooling towers were at the end of their useful life.   

After
All new roofs, cooling towers and a full 7 elevator modernization were completed within the first 12 months of ownership of the asset. 

Results
Parmenter’s efforts created quite a buzz in the market and these buildings are competing with the top tier buildings and securing tenants.  The new tenants told us they chose these building over others due to their unique and attractive amenities and Parmenter’s reputation as a quality owner.