Crow Holdings’ Old Parkland East development continues to vacuum up tenants amid stiff competition in the Dallas office market.
Susser Bank is set to more than double its office space with a relocation to Old Parkland East in Dallas.
Following a $40 million capital raise earlier this year, Susser Bank will move its headquarters from a 6,500-square-foot space at the Crescent in Uptown to a larger 14,000-square-foot office at Old Parkland East, a new development by Crow Holdings, The Dallas Business reported.
One reason for the move, which is expected to be completed in the summer of 2025, is that the bank’s lease at the Crescent was up for renewal. Instead of renewing the lease, execs at Susser opted to relocate the headquarters to a more suitable and familiar space.
“Where we’re moving to is just a better fit for us,” said Carl Cravens, executive vice president and chief lending officer for Susser. “We’ve added bankers and we’ve added staff to our back office on the credit analyst side and the portfolio management team and just needed more space.”
The new headquarters will accommodate about 40 employees. However, the bank plans to continue hiring beyond that.
“Our biggest opportunity would be to grow the deposit side of the company, along with our treasury management platform that we’ve invested heavily in the past five years, to really fund the bank’s growth internally and organically and not rely on wholesale funding to do that,” said Cravens.
Susser isn’t the only company to choose Old Parkland East. Kansas City-based law firm Polsinelli PC will occupy roughly 41,000 square feet at Old Parkland East.
As of March 31, Susser had $2.15 billion in assets, a 12.5% increase from the previous year.
Overall, the bank operates nine branches and three loan production offices, with plans to convert the Austin loan production office into a full-service branch. The bank also plans to open a new branch in Plano at 6900 North Dallas Parkway.
– Andrew Terrell
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