Pony Oil is relocating to a new 12K square foot office at 3100 Monticello for its walkability and recently renovated interior.
DALLAS, October 21, 2019 – Pony Oil, a land-focused oil and gas company, is moving its headquarters from 4245 N. Central Expwy. to 3100 Monticello Ave. in the Uptown area in Dallas. The company has leased 11,917 square feet (sf) in the nine-story, newly-renovated Class A office building, which is owned by Prescott Group.
Pony Oil is the largest independent aggregator of mineral and royalty interests in the United States. Since its founding in 2012, the company has been experiencing high growth. As a result, they have outgrown their current Uptown location.
The company was drawn to 3100 Monticello because it has been recently renovated and is in a highly walkable neighborhood in Uptown near a variety of restaurants, said Robbie Baty, Executive Director at Cushman & Wakefield. He and Cushman & Wakefield colleague Shannon Nehrig represented Pony Oil in their property search and lease negotiations.
“Pony Oil ran out of room at their current building, but they wanted to stay in the area,” Baty said. “This new lease will allow them to more than double in size as they continue to sustain their steady growth. The company also wanted to take advantage of the newly-renovated building under its new ownership, Prescott Group. Once they move in, they will be able to walk to many amenities in this area, which makes it attractive for a fast-growing oil and gas company looking to flourish. Additionally, their sign will be on the top of the building, which allows for great brand exposure.”
John Paul Merritt, Founder and CEO of Pony Oil, said, “We are excited to begin 2020 with a fresh start in our new office at 3100 Monticello. Our employees work hard, so being able to offer them the newly-remodeled facility and all of its amenities will be a great asset. We look forward to our new headquarters and cannot wait to continue to grow our company.”
“Prescott Group is pleased to have attracted a company of Pony Oil’s caliber to the building,” said Prescott Group’s Brian Leslie, Senior Managing Director, Asset Management. “Our team looks forward to further developing our relationship with Pony Oil and assisting in any way we can to nurture their growth.”
Kyle Bramlett and Wes Combs, of Cushman & Wakefield’s Project and Development Services Group, will oversee construction on Pony Oil’s new office space. The company will move into the new space in early 2020.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About Pony Oil
Pony Oil is an independent mineral investment company founded by John Paul Merritt and headquartered in Dallas, Texas. Pony Oil currently conducts operations in Texas, New Mexico, Colorado, Wyoming, and Oklahoma. Since 2012, Pony Oil has acquired over 40,000 net royalty acres. For more information, please visit www.ponyoil.com.