Chicago-based developer investing in Dallas real estate market

  • 2020-01-26
The appearance of Chicago-based Sterling Bay in Dallas, and its purchase of land here, may signal office development for Deep Ellum’s future.

Developer Sterling Bay has recently acquired a vacant 70,000-square-foot building that was formally home to Reel FX Inc., an animation and visual effects firm. The property at 301 N Crowdus was previously held by Charlotte-based Asana Partners. The building was vacated earlier last year in favor of a 25,000-square-foot space downtown at the KPMG Centre.

Sterling Bay played a part in transforming the former meat-packing district in Chicago into a mixed-use neighborhood over a 10-year period. The company has completed several redevelopment projects, including turning a 10-story, century-old cold storage building into the headquarters for Google Midwest. Sterling also created a regional headquarters for Tyson Foods from what was a nondescript loft building.

Whether through renovation or construction, newly opened office(s) of any kind prompt a surge in business card distribution. Some of an office’s employees will give out Business Cards in the process of building their clientele, while potential vendors for the office will be doing the same.

Almost a dozen new office buildings have been built by the firm. Although Sterling Bay says it is too early to reveal its plans, its track record of building high-class office buildings suggests office space is what its new property will become. An office building that attracts big name tenants is what many in Deep Ellum hope the community's future holds.
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