Compass expands North Texas presence with new Dallas regional headquarters – Dallas Business Journal
New York-based real estate firm Compass is capitalizing on North Texas’ thriving real estate scene by expanding its own real estate footprint in the market.
As reported by the Dallas Morning News, Compass has signed a lease for 24,000 square feet at the Terraces at Douglas Center, a newly-constructed office development at 5960 Berkshire Lane in Dallas’ Preston Center.
The space serves as Compass’ new Dallas regional headquarters, housing more than 80 sales agents. That number is expected to grow to more than 200, according to the DMN.
“Our momentum in Dallas is a testament to agents’ commitment to growing their business providing their clients with best-in-class service,” Rob Lehman, Compass’ chief growth officer, said in a prepared statement. “We’re excited to build out this office space to serve our agents and their clients across the region.”
Compass, which focuses on aiding the process of buying, selling or renting a home through technology, first landed in North Texas last year with plans to operate a three-office business in partnership with The Collective Residential. Compass’ previous offices were in Dallas’ Oak Lawn neighborhood.
With its entrance into the DFW market, Compass merged with The Collective in an undisclosed deal, the Dallas Business Journal reported at the time.
Including its Dallas office, Compass’ footprint spans 14 metro areas across the U.S. Last year, it landed a $450 million investment from Softbank Vision Fund to fuel its expansion, including in Dallas.
At the time, Robert Reffkin, co-founder and CEO of Compass, told the DBJ that the funding would allow the real estate firm to expand into eight additional markets.
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