One of downtown Dallas’ biggest buildings has landed a major new tenant.
California-based TripActions – a fast growing corporate travel management firm – is taking more than 88,000 square feet of office space in the Renaissance Tower at 1201 Elm St.
The just-signed office deal is one of the largest lease transactions in downtown Dallas this year and will bring hundreds of new workers to the building.
The move will also more than triple TripActions office footprint in the Dallas area.
“TripActions’ business is booming,” Whitebox Real Estate’s President and Managing Director Grant Pruitt said in a statement. “This is their second office relocation with a need to expand within a year.”
The company is moving from a smaller office at 717 Harwood St.
The 56-story Renaissance Tower is one of Dallas’ largest office buildings with 1.7 million square feet of space. It’s second in size only to downtown’s 72-floor Bank of America Plaza.
Built in 1974, the glass skyscraper got a makeover in 1991 which added the decorative metal towers on the roof.
Major tenants in the building include Neiman Marcus, Hilltop Securities and Ernst & Young. The U.S. Environmental Protection Agency is also relocating its operations to the building.
Whitebox Real Estate’s Evan Hammer, David Harris and Jade Scott negotiated TripActions lease with CBRE’s Dennis Barnes, Clay Gilbert and Ben Davis.
Before picking Renaissance Tower, TripActions narrowed its shopping list to about six locations downtown, Harris said.
“We were very focused on downtown due to the workforce here,” Harris said. “They are a growing company.
“With Uber going into Deep Ellum and the public transit, it drew them to downtown,” he said.
The company currently has about 200 workers in the smaller Harwood Street office but plans to grow dramatically.
Founded in 2015, TripAction is based in Palo Alto. It’s just the latest California firm to locate a major employment center in Dallas.