Harwood Center refi raises $6M for face-lift

Harwood Center could see a face-lift after a recently completed debt restructure brought about $6 million in funds for capital improvements and about $10 million to cover leasing and tenant improvement costs.

The owners, New York-based Fortis Property Group LLC, through its subsidiary FPG-DMT Harwood LLC, awarded the leasing assignment for the 723,964-square-foot property to Cushman & Wakefield of Texas Inc.

The 36-story office building at 1999 Bryan St. is undergoing some capital improvement, including a new roofs and replacement of its heating and air-conditioning system. The building was built in 1982.

Some vacant space and the new lobby cafe will be constructed and is expected to be completed by the end of the year.

The property is 73 percent leased and there’s a couple of potential tenants looking at the site, said Eric Rutledge, general manager and director in Cushman & Wakefield’s leasing group.

Rutledge, Allison Fannin and Abbey Rowsey will oversee the leasing of the building effective immediately.

Dallas Business Journal by Candace Carlisle, Staff Writer, Staff Writer – May 20th, 2011