Thursday, September 26, 2013
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!
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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.
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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.
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Heritage Square is
coming to market at a rumored $80 SF. The project is around 71% leased.
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9401 LBJ and North
Creek II, at Abrams and LBJ, are for sale at $9 million.
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Abrams Centre is
offering 8% commission to the Tenant’s Brokers.
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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.
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Also at 5501 LBJ –
Dimont & Assoc is vacating 22,000 SF in November. . purchased by Wingspan and
moving to Duke Bridges.
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| LBJ Broker's reveal all. |
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| Construction doesn't scare us. |
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| My comp is better than your comp |
Wednesday, September 25, 2013
New Haunted Circus in Irving
A new scary haunted circus leased 11 acres at Esters and 114. Good short term use for this vacant parking lot.
Uptown Office Leasing is Hot - Free Rent Hard to Find
At a meeting of Uptown office brokers today the message was clear -- rates are up and Landlord's are saying NO to free rent.
Lots of good buzz was shared . . . here are few highlights.
Lots of good buzz was shared . . . here are few highlights.
- Community Trust Bank is moving into Two Turtle Creek this month, plus Premier Business Centers just signed a new deal for 12,000 SF. The building is 75% leased and climbing.
- 3500 Maple is "Closed for Business." Brokers reported that all deals are dead due to Landlord's current financial woes. Evidently, foreclosure has been pushed back.
- 2000 McKinney is 100% leased. If they had any space to lease the rate is $40 SF + E. Wow!
- Gables signed a new lease at 2811 McKinney for a rumored 14,000 SF.
- NBC is moving out out of Citymark at the end of the year. The building has a 34,000 SF block available.
Dallas Shows Big Drop in Vacancy
In the third quarter, overall Dallas-area office vacancy fell by a full percentage point to 18.1 percent, as reproted by CBRE today.
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