DOWNTOWNDALLAS WELCOMES TENET HEALTHCARE CORPORATION'S CORPORATE HEADQUARTERS

DOWNTOWNDALLAS and the City of Dallas announced the relocation of Tenet Healthcare Corporation’s corporate headquarters to Downtown on August 7, which will bring approximately 500 employees to the area, leasing 165,000 square feet in Fountain Place® at 1445 Ross Avenue. The move will take place by the end of 2009. With 2007 revenues of $9 billion, Tenet ranks 280 in the Fortune 500 and is the 13th largest public company in the Dallas/Forth Worth area. The company relocated its corporate headquarters to its current Noel Road location in North Dallas from Santa Barbara, California, in 2004. Tenet Healthcare Corporation, through its subsidiaries, owns and operates 50 acute care hospitals in 12 states and related ancillary health care businesses, which include ambulatory surgery centers and diagnostic imaging centers.

“The decision to move our headquarters from North Dallas to Downtown was based on many factors,” said Trevor Fetter, Tenet’s President and Chief Executive Officer. “Its central location and close proximity to the Arts District will provide employees with easy access and a multitude of amenities. The move, coupled with our announcement earlier this week of improving financial performance, marks an exciting time for Tenet, and there is no better place to continue growing our business than Downtown Dallas.”

“In the last year alone we have seen a surge of corporate relocations to Downtown,” commented Mayor Tom Leppert. “In fact, as a result of companies like Tenet, more than 6,000 new jobs have moved to the area in the last year, which just adds to the energy and excitement we see in our city’s core. Then when you consider the development of landmark projects nearby like the Trinity River, Convention Center Hotel and Dallas Center for the Performing Arts, as well as a booming new residential population and growing retail base - Downtown only becomes more and more attractive. It’s a new day Downtown, and we welcome Tenet to our community!”

Phil Puckett and Chris Hermann with CB Richard Ellis represented Tenet in the transaction, and Mike Lewis and Kirby White with Crescent Real Estate Equities represented Fountain Place®. Fountain Place, located at the corner of Ross and Field streets, is an iconic part of the Downtown skyline, designed by internationally renowned architect IM Pei. Mike Lewis, Managing Director of Crescent Real Estate Equities commented, “We are thrilled to have a company with the prestige of Tenet Healthcare relocate to Fountain Place. They are an asset to the building, and we believe they will find the location between the Arts District and West End a valuable asset in return.”

TWIN TOWERS TO BRING MORE CRANES TO DOWNTOWN

A 1 million-square-foot project, called Akard Place, will be built southeast of American Airlines Center, in the block bounded by Cedar Springs Road and Akard, Ashland and Field streets. The plans call for two 28-story towers with a mix of hotel, residential and office space built on top of ground floor retail. Construction of the first phase will start in the spring and take about two years to complete.

RED Development out of Kansas City, Mo. specializes in projects that combine retail with residential, office and hotels and is the developer on the project. DOWNTOWNDALLAS member HKS Inc. is the architect. Anchor retail tenants and the hotel flag will be announced in about a month.

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URS BUYS LOPEZGARCIA GROUP

URS Corp. bought the 200-employee firm who has offices Dallas, Fort Worth, Houston, Austin and Amarillo. LOPEZGARCIA Group is an active member of DOWNTOWNDALLAS and their cofounder and CEO, Wendy Lopez, is a member of the organization's board of directors. Lopez will remain with the firm as leader of its Texas initiative with a title of vice president.

URS has had a presence in North Texas since the 1960’s, mainly through acquisitions of local firms. Its Texas projects have included work on a Downtown Dallas Area Rapid Transit line and planning work for the Dallas/Fort Worth International Airport. LOPEZGARCIA’s projects have included the mechanical, electrical and plumbing design services for the new Dallas Cowboys stadium and program management services for Dallas / Fort Worth International Airport. URS will move out of its offices in the Graystone Centre on LBJ Freeway and move into the InfoMart where LOPEZGARCIA currently offices.

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NEW ARRIVALS TO DOWNTOWN

Office tenants at 1700 Pacific and Downtown residents will soon have access to an upscale, 25,000-square-foot fitness center called “Elevation.” The new center includes 3,000-square-feet for fitness classes and state-of-the-art fitness equipment. The Dallas Maverick’s Dancers have already signed a contract to work out at the fitness center during the coming year. Capital Institutional Services Inc. (CAPIS) has signed a seven-year deal with Thanksgiving Tower and will occupy the 39th floor. CAPIS is one of the industry's top agency-only institutional brokerages and independent research providers.

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