Douglas Center is a 400,000 SF class A office project in Dallas’ Preston Center. HPI-led partnership acquired the project in April 2020.
At purchase the building was 74% leased and achieving below market rents. HPI Oversaw redevelopment of lobby in 8333, new fitness center in 8333, a spec suite program, new conference center in 8343, and partnered with local coffee shop to open a location in the lobby.
New, energetic leasing and management team was able to immediately raise rates on renewals and new deals. Building occupancy was brought to 92% in 14 months and rates were increased by 20%. Two of the largest tenants were renewed for long terms and increased rates over 25%.
Occupancy Increase in 14 Months: 18%
Increase in Renewal Rates: 25%
Increase in Rates During a Pandemic: 20%
As the Dallas Partner, Hunter is responsible for overseeing Dallas’ day-to-day operations and business developments including property acquisition, development, and operations, with a focus on office and industrial assets. Hunter joined HPI in July of 2015 and has been responsible for overseeing HPI’s office leasing and management services in Dallas since then, and has also been involved in sourcing office investments in the DFW Metroplex. Since the inception of the Dallas office, Hunter has been instrumental in HPI’s growth from 3 employees to 45 employees as of October 2020. He is an active member of Watermark Community Church, serves on the board of Vision Africa, is the communications officer for the Touchdown Club of Dallas, and is a steering committee member of The Real Estate Council’s Programs Committee. Prior to joining HPI, Hunter was with CBRE for over five years. Hunter was born and raised in Canyon, Texas before attending Baylor University. He resides in East Dallas with his wife Tayler, and their son Meyer and their daughter Sloan.
Dallas , Texas 75225
Ben joined HPI’s Dallas leasing team in 2018. With a sole focus on office assets, Ben serves as Vice President for HPI’s Dallas portfolio and third party clients, ranging from institutional investors to local property owners. Prior to joining HPI, Ben played professional golf in the United States and South Africa, where he is originally from. Ben is actively involved in the community, serves on the board of Viola’s House and is a member of TREC and NTCAR organizations. Ben graduated with a BBA Finance degree from Henderson State University where he earned a golf scholarship. He resides in Dallas with his wife Megan, and their son Max.
Dallas , Texas 75225
Luke joined HPI’s Dallas leasing team in 2018. With a sole focus on office assets, he services as a leasing representative for HPI’s Dallas portfolio. After graduating from TCU with a major in finance and a minor in accounting, Luke worked as a financial analyst for Dimensional Fund Advisors before joining the HPI team. At Dimensional, he produced portfolio, regression, and performance attribution analyses to support sales activities for the Regional Director of Texas. Luke uses his finance background and market intelligence to provide value for clients and is an active member of TREC and NTCAR organizations.
Dallas , TX 75225