Window cleaning at Fountain Place today

13 New Office Buildings Under Construction North of George Bush

Office brokers recently shared market news and scoop for the North Dallas Tollway office sub-market.

• Trammell Crow's new office tower is under construction at Tollway and Legacy with quoted rates of $28 SF + NNN.  This makes it the most expensive building in the Legacy area.
• The Capital One Building at the Tollway and Windhaven (3905 Dallas Parkway) has 160,000 SF available and 6/1,000 parking.  Rate is $22 SF + E.
• Headquarters Place is 65% leased with all spec suites.  The rates are $28-$30 SF + E.
• Tyler Technologies moved out of International Business Park -- vacating 60,500 SF.
• Still no new leases signed at Granite Park IV.

SUB ROC Deli Opens at 1717 McKinney.

SUB ROC deli out of Houston has opened at 1717 McKinney.  This is not your typical office building deli and the food is not bad!

Plano electronics firm consolidates office and plant in Carrollton

http://bizbeatblog.dallasnews.com/2013/10/plano-electronics-firm-consolidates-office-and-plant-in-carrollton.html/?nclick_check=1

 

Interphase is moving into the International Tech Center.

A Plano-based electronics firm is moving its operations to a new location in Carrollton.
Interphase Corp. has rented 43,374 square feet in the International Tech Center on International Parkway in Carrollton.
The company currently has its offices on the Dallas North Tollway in Plano and plant on Luna Road in Carrollton. The two facilities will be consolidated in the new location.
“The new facility will allow us to triple our current production capabilities at a very important time for our company,” Greg Kalush with Interphase said in a statement. “With the significant growth we have been experiencing in our electronics engineering design and manufacturing services business, co-locating our development and manufacturing teams will greatly enhance the efficiency of our services offerings for our customers.”
Interphase has been in business since 1974 and has sales offices in the U.S. and Europe. The company’s clients include Alcatel-Lucent, Fujitsu Ltd., Genband, Hewlett Packard, Oracle and Samsung.
“We conducted an extensive search over several months to find the perfect fit for Interphase,” Daniel Rudd with Colliers International said. “With the consolidation into one location, we were looking for a unique facility that would meet their operational and corporate needs to support business growth.”
Colliers Rudd negotiated the new lease with Billy Vahrenkamp, Jennifer Bentley, Chris Lipscomb and Michael Carmichael.

Central Expressway - Office Leasing Still a Challenge

• Search Plaza is 91% leased.
• ACS campus – sounds like Crow will convert 16 acres to retail possibly big box
• Northpark Management renewed at 8080 Central for approximate 17,000 SF.
• Cityplace for sale and down to 8 finalists.
•  Sounds like KBS is closing in on HP Place.
• Fiserv renewed for 48,201 SF for the top 2 floors of Northpark Central.
• Trader Joes will open at Walnut Hill and Central.

  

 

Brookfield Asset Management Sells Regent Commons - Daily News Article - GlobeSt.com

Brookfield Asset Management Sells Regent Commons - Daily News Article - GlobeSt.com

LBJ Office Brokers Reveal All!

Okay, we all know about the construction project along LBJ, but that is not the only thing happening.  Sounds like investors are looking for deals along LBJ and see it as the next hot spot!

-        One Graystone -   3 weeks ago the building was without air-conditioning for an entire week.  They have now installed 2 new coolers.  Younan still plans to spend $500,000 on lobby and $300,000 on corridor/restroom renovations.  

-        5728 LBJ, at Montfort and LBJ, is for sale at $70 SF.  The building is 70,000 SF and has just one 7,000 SF tenant – 7.2% leased.  At this price they aren’t really getting many offers.

 

-        Heritage Square is coming to market at a rumored $80 SF.  The project is around 71% leased.

 

-        9401 LBJ and North Creek II, at Abrams and LBJ, are for sale at $9 million. 

 

-        Abrams Centre is offering 8% commission to the Tenant’s Brokers.

 

-        Wingstop leased 25,070 SF at The Crossings – 5501 LBJ.  Goddard is really the only owner on LBJ that could pull off this deal.  Wingstop has quite a bit of term left in Richardson.  The building is 77% leased and they are quoting $17 SF + E. 

 

-        Also at 5501 LBJ – Dimont & Assoc is vacating 22,000 SF in November. . purchased by Wingspan and moving to Duke Bridges.

LBJ Broker's reveal all.

Construction doesn't scare us.

My comp is better than your comp