DALLAS – December 10, 2024 – Granite Properties, a commercial real estate investment, development, and management company, today announced that Compatriot Capital, Inc., a Dallas-based real estate investment firm, has signed a long-term, full-floor office lease (13,000 square feet) at The Douglas, a 13-story, Class-A office building in the coveted Preston Center in Dallas. Compatriot will be nearly doubling their office space upon their arrival to The Douglas in mid-2025.
Compatriot was represented on the lease transaction by Conor McCarthy, Scott Hage and Larry Toon of JLL. Granite was represented by Burson Holman and Elizabeth Fortado of Granite.
“We’re thrilled to welcome real estate investment firm, Compatriot Capital, to The Douglas in Preston Center and support their growth and success,” said Paul Bennett, Senior Managing Director, Granite Properties. “Leasing momentum at The Douglas continues to be strong and includes lease extensions and expansions. We believe this is the result of us adding unique amenities enhancing the customer experience and fostering connection among the people who work here. In 2018, our updates included customer lounge “The Vault,” a golf simulator, and outdoor meeting space, and last week we delivered another customer lounge on the first floor to further this effort,” he added.
“We’re excited to have all our team members work across one full floor at The Douglas. As we continue to grow, we believe it is the ideal work environment to enhance teamwork and strengthen our company’s culture and brand identity,” said Mark Van Kirk, President, Compatriot Capital. “Our team members will also benefit from Granite’s focus on providing compelling office experiences and energizing spaces to meet and work. We also wanted to stay in Preston Center, which is easily accessible for our team members and home to so many great real estate groups,” he added.
The Douglas was recently updated with a 1,600 square foot customer lounge on the first floor. In 2018, Granite updated the building with a 4,500 square foot lounge called “The Vault” featuring a lounge, conference center, training room, Grab-and-Go food service, golf simulator and putting green, and a landscaped outdoor patio with seating. The Douglas is located at 8235 Douglas Avenue offering easy access to Northwest Highway and the Dallas North Tollway. It is surrounded by residential neighborhoods and steps from the Plaza at Preston Center offering upscale shops and restaurants.
About Granite Properties
Granite Properties is a privately held commercial real estate investment, development and management company founded in 1991. The firm owns 11 million square feet of high-quality office space in Dallas, Houston, Atlanta, Denver, Southern California, Boston and Nashville. Granite is an established investor, developer and manager with a focus on sustainable, highly amenitized projects. It has completed more than $10 billion in real estate transactions and more than 30 million square feet of real estate development and acquisitions. Current active development projects in Boston, and Dallas total over 1.6 million square feet with total costs over $1.2 billion. Granite focuses on creating extraordinary customer experiences through mixed-use environments, rich amenities, customer-centric service, and innovative wellness features. Granite, NAIOP’s 2022 Developer of the Year, was named one of Fortune Magazine’s Best Workplaces nine times, ranking #8 on their 2022 Best Workplaces in Real Estate list. For more information, visit: graniteprop.com.
About Compatriot Capital
Compatriot Capital is the real estate investment subsidiary of Sammons Enterprises, Inc., a diverse holding company headquartered in Dallas, Texas. Compatriot acquires ownership interests in leading real estate companies that develop and operate office, residential, mixed-use, hospitality and industrial projects. It also invests in real estate projects across various asset classes in the Southeast, Southwest and Midwest areas of the United States. For more information, visit: www.compatriotcapital.com.