International petroleum consulting company DeGolyer and MacNaughton (D&M) recently signed a long-term lease extension for 65,543 square feet at Providence Towers at 5001 Spring Valley Rd. The company will continue to occupy floors seven through nine in the East Tower, with the space also serving as the company’s headquarters.
Transwestern’s Kim Brooks, Justin Miller and Scott Walker represented KBS in the negotiations. CBRE’s Jeff Ellerman and John Ellerman represented D&M.
“We are proud to have retained such a high-profile tenant in this beautifully designed building,” said Brooks. “With best-in-class amenities and proximity to the tollway, D&M will continue to enjoy all the benefits of the space for years to come.”
This transaction highlights the ongoing demand for office space in strong locations throughout the Dallas market, according to Gio Cordoves, Western regional president for KBS.
“Dallas has demonstrated remarkable economic resiliency during the pandemic and is expected to grow exponentially in the coming years,” says Cordoves. “Providence Towers, a premier asset located at one of the most prestigious business addresses in this market, continues to draw in and retain top-quality tenants.”
The lease renewal agreement speaks to the property’s prime location, in-demand amenities and access to the Dallas area, according to Brett Merz, asset manager for Providence Towers and senior vice president of KBS.
Earlier this year, the property underwent a multi-million-dollar renovation to upgrade the on-site café and deli.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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