PRESS RELEASES

Equastone Tenant Expands to 48,660 SF in the Dallas Metroplex

Irving, TX. - Equastone, a private real estate investment firm, announced today that Handango, an online retailer of smartphone software, has signed a seven year, 48,660 square foot lease. Approximately nine months ago, Handango leased 11,794 square feet at Corporate Point at Las Colinas. Shortly thereafter, Handango decided to move its headquarters from the Mid-Cities area to Corporate Point, which required a 36,866 square foot expansion. Since acquiring the 10-story, 223,500 square foot office building in foreclosure, Equastone has invested $3.3 million to upgrade the appearance and mechanical systems. Handango joins Health Management Systems and Ricoh as prominent tenants to lease at Corporate Point since the completion of the capital improvement program. David Walters and Alan Wood of The Staubach Company represented the tenant. Kurt Cherry and Dana Rexford from PM Realty Group represented Equastone in the deal.

Clint Harrington, Executive Vice President of Equastone, said, "Handango is the third major tenant we have signed at Corporate Point and a ringing endorsement of our belief in the submarket. Corporate Point is located in an extremely attractive location in Las Colinas -- a premier business submarket desired by firms that are recruiting employees across Dallas. Our strategy to add value with significant capital improvements and to re-brand the property has enabled us to aggressively target and secure A-level tenants. Corporate Point offers one of the best values in the submarket and we will continue to offer new tenants a variety of customizable space and attractive improvement packages."

Corporate Point is situated in Las Colinas, a master planned area of commerce that has
attracted a diverse mix of Fortune 500, technology, Internet and telecommunication companies. Formerly called Atrium at Highpoint, Equastone contracted with Staffelbach Design Associates to reposition the property and give the building a fresh look with cherry wood paneling, terrazzo flooring, a new lobby, and enhanced lighting throughout. Tenants have cited the new upgraded appearance, expansion opportunities and ability to handle heavy parking requirements as key reasons for selecting Corporate Point.

Equastone is one of the largest commercial office owners in the Dallas/Fort Worth Metroplex with 19 office properties totaling nearly 4.3 million square feet.

About Equastone
Equastone is a leading real estate investment firm specializing in the acquisition and asset management of opportunistic and value-added real estate. Equastone manages investment capital on behalf of Equastone Real Estate Funds, private equity funds for high-net-worth and institutional investors.

Equastone currently owns 61 office buildings encompassing more than 9.3 million square feet of property and intends to acquire opportunistic real estate deals throughout the US. For more information about Equastone, call Mykel Sprinkles at (858) 812-3261 or visit www.equastone.com.

top | back to press releases