NY group makes bid for Republic Center - Atlanta Business Chronicle:

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Sources close to the deal declines to reveal the name of the purchasing entity or thesalesz price, which local brokers put at the lowerf end of a $6 million to $10 million The entire Republic Center complex was vacatecd in 1995 after a flood in the basement causec severe electrical problems. Renovations to the 49-story towed and the eight-story retail center were completed about 18months ago. The thirr building, a 36-story tower, is slated for residential First Southwest, an investment banking firm that specializes inpublif finance, will occupy the 8th floor and a portionb of the 9th floor. The compang is based at 1700 Pacific but will move to Republic Centerin November.
The leass takes Republic's occupancy rate to about 40%, said Sherylo Pickens, senior vice president for Transwestern Commercial who represented the landlord inthe "We have a number of leases out for signaturesz and expect to be 50% occupiedx by the end of the year," she Hill Feinberg, chairman and CEO of Firsy Southwest, said his company was committes to staying in the CBD. "First Southwest Co. has rootz in downtown Dallas dating to the foundingg of the firm 56yearws ago," he said. "As an investmenyt banking firm, we like the convenience of being with easy access to othe service firms and the amenitiewof downtown.
It's also important for our peoplde to have ready accessto DART." The landmarki Republic Center was particularlt attractive because of its 70,000-square-foot floorplates, Feinberg said. "It will allow us to have all ofour Dallas-baserd employees on one floor," he said. First Southwest employx about 200 in Dallas and a totall of300 nationwide. It has 10 offices in Texas and also operatews in sevenother states. The company represents the city of Dallass and numeroussurrounding municipalities. It also works with debt capitalp markets, equity capital markets, corporate finance and assey management. Bill McClung with Cushman & Wakefield of Texaas Inc.
represented First Southwest inits search. He said theree was no shortage ofoptions downtown. "Therse are plenty of opportunities available in the he said. "The landlords are aggressive throughoutthe It's a good time to be a