UMB Bank, n.a., a subsidiary of UMB Financial Corporation, headquartered in Kansas City, Mo., is expanding to the Dallas market with a new loan production office planned for the Hall Arts building, which will be located at 2323 Ross Avenue in the Dallas Arts District downtown. The bank will occupy 5,887 square feet of ground floor space once the office building is complete in early 2015. In the interim, UMB has leased 3,284 square feet of office space at 2600 Network Boulevard in Hall Office Park in Frisco, Texas.
Mike Gosslee and Mari Jones, senior directors with Cushman & Wakefield of Texas, Inc., represented UMB in site selections and lease negotiations for both leases. Kim Vincent Butler represented Hall Financial Group, developer and owner of Hall Arts and Hall Office Park in the transactions.
“We considered a broad area within Dallas for UMB’s first location in the region,” said Mr. Gosslee. “Hall Arts provides both a perfect starting point for the bank in its expansion to North Texas and a center for future growth in the area.”
UMB Bank currently has more than 115 locations in eight states and offers a variety of services including commercial banking, private wealth management, treasury management and healthcare services. While UMB has had clients in Texas for more than 30 years, the new Dallas location solidifies UMB’s role in the market.
“The Dallas market has tremendous growth potential and diverse opportunities that are a good match for our strategy,” said UMB Texas President Zach Fee. “Securing space in the art district will allow us to be in the middle of the vibrant city and continue our 100-year old tradition of serving our communities.”
The Hall Arts office building at 2323 Ross Avenue in the Dallas Arts District is part of Phase I of the mixed-use development being built out in three phases by Hall Financial Group over the next several years. Anchored by KPMG, the 18-story building will also feature 20,000 square feet of adjacent premium restaurant space plus a half-acre park with outdoor seating areas and contemporary Texas sculpture on display. Tenants will benefit from the prestigious Ross Avenue business address, an existing underground parking garage, and restaurants and entertainment venues that will face Flora Street overlooking Sammons Park, the Meyerson Symphony Center, and the Winspear Opera House.
“We are honored that Hall Arts has been chosen by UMB as the high-profile location from which it will grow its Texas business,” said Craig Hall, chairman and founder of Hall Financial Group. “Our goals are to provide a unique environment with special amenities and business services that will support the success of our tenants. Dallas is a strong financial market and we look forward to UMB’s continued growth here with us.”