CBRE announced that Fortress Investment Group LLC (“Fortress”) has signed a 47,850 sq. ft. lease at Weir’s Plaza, a mixed-use retail and office development in the Knox-Henderson neighborhood of Dallas. The state-of-the-art Weir’s Plaza development broke ground in July 2019 and is scheduled to open in November 2021.
Tommy Nelson and Dennis Barnes with CBRE’s office leasing team in Dallas represented the landlord, Dallas-based Four Rivers Capital. Howard Grufferman, Billy Vahrenkamp and Brad Balke with Colliers International and Jeff Ellerman and John Ellerman with CBRE co-represented Fortress in the lease.
Fortress, a leading global investment manager with approximately $53.1 billion of assets under management, has a significant and growing North Texas presence, with more than 50 employees based in its Irving office. The firm will maintain its office in Irving following the opening of Weir’s Plaza. Fortress executives Drew McKnight and Josh Pack, co-chief investment officers and managing partners of the firm’s Credit business, will be based in the new Weir’s Plaza location.
“We saw record demand from limited partners over the past year across our Credit strategies, and looking ahead, we see a very fertile landscape for new investments,” said Fortress Managing Partner Josh Pack. “Expanding our presence in Texas will support the continued achievement of our most fundamental objectives—delivering exceptional returns and service for our limited partners.”
Weir’s Plaza is being developed by Four Rivers Capital on the former location of Weir’s Furniture store at 3219 Knox Street. Located in the heart of Knox-Henderson, the 12-story Weir’s Plaza building will offer tenants state-of-the-art amenities, spacious terraces throughout the building, six levels of underground parking and unencumbered views of downtown Dallas.
Fortress joins several other tenants in pre-leasing space at Weir’s Plaza. Global law firm Kirkland & Ellis, LLP signed a lease as the anchor tenant in 2019 when construction began and will take three floors of office space. The retail and restaurant space in the building has received significant interest as well. The Knox district location provides convenient access to amenities, with two entrances to the Katy Trail, 40 retail locations and 24 restaurants within a five-minute walk.