The Blackstone Group and its affiliate Equity Office Partners have selected commercial real estate firm JLL to market the Solana office park in northeast Tarrant County.
The 233-acre corporate campus is located situated along Highway 114 in both Southlake and Westlake. The campus features three Class A office properties totaling almost 2 million square feet.
The Blackstone Group and its Equity Office affiliate purchased the 30-year-old development in 2013 out of foreclosure. Earlier this year, they began a capital improvement plan in excess of $65 million.
The capital improvements include new structured parking garages at The Vista at Solana and The Terrace at Solana that will raise the parking ratios at both buildings. The Terrace at Solana has increased its parking ratio to five per 1,000 square feet with the opportunity for future expansion that would eventually bring it to seven per 1,000 square feet. The Vista at Solana now boasts a seven per 1,000 square feet parking ratio.
JLL’s Managing Director Jeff Eckert, Senior Vice President Jay Bailey and Vice President Blake Shipley in the firm’s Dallas office will team with JLL’s Senior Vice President Frank Taylor and Associate Meredith Miner in Fort Worth to lease and market the campus.
“The capital improvements are near completion and have already made a major impact; they’ve truly created a cutting-edge campus experience,” said Eckert. “We expect that the new look and feel will attract Fortune companies who want to relocate their operations to and within the Metroplex.”
According to JLL, Solana currently has the largest available contiguous Class A blocks for lease in the Dallas-Fort Worth area. Two large contiguous spaces available include 381,000 square feet at The Vista at Solana and 715,000 square feet at The Terrace at Solana. The property has three parcels of land totaling 111.9 acres that are ready for built-to-suit development, according to JLL.
Solana also features a newly renovated 38,000-square-foot Larry North Fitness Center, Marriott hotel and conference center, 10,000-square-foot day care center and numerous restaurants.