Scorecard: Summer 2015

Top office, industrial, and retail leases



The Dallas-Fort Worth commercial real estate market is off to a strong start in 2015, across all sectors. The region continues to benefit from strong job and population growth, solid market fundamentals, and a diverse economic base. Here we look at the top five office, industrial, and retail leases of the past three months, with data provided by Xceligent Inc. 

ON-THE-GROUND INSIGHTS

Steve ThelenOFFICE:

“You cannot hide the fact that more than 300 people are moving here each day. There are more large companies looking at relocations or consolidations in this area than ever before.”

STEVE THELEN, Partner, JLLNora Hogan


“Expanding tenants will continue to absorb space, and corporations will continue to evaluate and choose North Texas as a top relocation region for their real estate needs. Let the good times roll.”

NORA HOGAN, Principal, Transwestern 

Chris TeesdaleINDUSTRIAL:

“Current deal activity suggests that 2015 will be as strong as recent years. But speculative development won’t continue at the same pace, until the latest wave of new product hits the market and leases up.”

– CHRIS TEESDALE, Executive vice president, Colliers International


RETAIL:

“We expect to see occupancy remain above 90 percent and rents to continue to firm up. All in all, we’re in the best retail market in recent memory!”

– STEVE GRAY, Senior Vice President, The Weitzman Group

 

 

Office Leases Summer 15

 

LARGEST OFFICE LEASES

1. REALPAGE

SIZE: 399,788 s.f. in Lakeside Campus, 2201 Lakeside Blvd. in Richardson

TENANT REPS: Tim Terrell and Jeff Schweitzer with Stream Realty Partners

LANDLORD: Cawley Partners and GEM Realty Capital, represented by Bill Cawley and Addie Ludwig of Cawley Partners. 

DETAILS: The software firm will relocate its headquarters to the four-story office building and will take occupancy in the 3rd Quarter of 2016.

 

2. CORELOGIC

SIZE: 327,183 s.f. at Cypress Waters in Dallas

TENANT REPS: Jeff Ellerman, Scott Hobbs, and Mike Scimo of CBRE

LANDLORD: Billingsley Co., represented in-house by Marijke Lantz

DETAILS: BOKA Powell designed this four-story building, the latest project to be built at the bustling 1,000-acre Cypress Waters development.

 

3. [TIE] CONFIER HEALTH

SIZE: 200,000 s.f. in Duke Bridges at 7460 Warren Pkwy. in Frisco.

TENANT REPS: Steve Thelen, Bo Bond, Rachel Brown, Torrey Littlejohn, Vince Burt, Jeff Davis, and Angela Carrier of JLL

LANDLORD: Duke Realty, represented by Dale Ray and Jeff Wood of Peloton Commercial Real Estate

DETAILS: The healthcare company expanded last year by moving its headquarters into the newly constructed property.


3. [TIE] KUBOTA TRACTOR

SIZE: 200,000 s.f.

TENANT REPS: Steve Berger and Ann Huntington, CBRE

DETAILS: In another major DFW relocation from Torrance, California, this global maker of tractors and lawn equipment has locked down a 25-acre site in Grapevine for a new headquarters. Initial plans call for a 150,000-square-foot office building and 50,000-square-foot R&D facility.

 

5. LIBERTY MUTUAL

SIZE: 160,000 s.f. at 3905 North Dallas Pkwy. in Plano

TENANT REP: Craig Jablin of Savills Studley

LANDLORD REP: Jeff Wood, Peloton Commercial Real Estate

DETAILS: The insurance company is housing its customer service operations here while its new campus is being built in Legacy West.

 

Industrial Leases Summer 2015

LARGEST INDUSTRIAL LEASES

1. BRIDGESTONE AMERICAS

SIZE: 1.1 million s.f. in Gateway 61 and Gateway 53 at AllianceTexas

TENANT REPS: Gary Collett, Jean Russo, Lou Hall, Kathleen Nelson, and Daniel Wilkins with Cushman & Wakefield

LANDLORD: Hillwood, represented by Reid Goetz and Tony Creme

DETAILS: Bridgestone renewed its lease in Gateway 61 and expanded into Gateway 53 for a total of about 1.1 million s.f.

 

2. NFI INDUSTRIES

SIZE: 653,582 s.f. in Park 20/35 at 1901 Danieldale Road in Lancaster

TENANT REP: Ryan Keiser with CBRE

LANDLORD: Prologis, represented by Dave Anderson of CBRE

DETAILS: The family-owned company has been in business since 1932 and is based in New Jersey. It already has several locations across North Texas. 

 

3. R.R. DONNELLEY & SONS CO.

SIZE: 514,992 s.f. in Trammell Crow Penn Distribution Center in Dallas

TENANT REP: Nathan Lawrence with CBRE

LANDLORD: Trammell Crow Co., represented by Kacy Jones and John Hendricks of CBRE

DETAILS: Trammell Crow Penn Distribution Center is one of the largest warehouses in the Interstate 20 corridor.

 

4. AMAZON

SIZE: 500,000 s.f. at the northwest corner of Interstates 45 and 20 in Dallas

LANDLORDS: Trammell Crow Co. and Clarion Partners

DETAILS: The distribution center will process smaller scale items, such as electronics and consumer goods. Dallas County provided $17 million in tax abatements to support the new fulfillment operation.

 

5. MENLO LOGISTICS

SIZE: 494,990 s.f. at 14900 Frye Road in Fort Worth

TENANT REPS: John Lancaster and Steve Shields with NAI Robert Lynn

LANDLORD: KTR Capital Partners, represented by Cannon Green and Matt Dornak with Stream Realty Partners

 

retail leases summer 2015

LARGEST RETAIL LEASES

1. BELK

SIZE: 95,000 s.f. at Glade Parks in Euless

DEVELOPER: North Rock Real Estate and Iron Point Partners

LANDLORD REPS: Steve Ewing and Josh Flores with EDGE Realty Partners

DETAILS: Belk will open its ninth North Texas location at the 193-acre Glade Parks development between Cheek-Sparger and Glade roads.

 

2. TOM THUMB

SIZE: 60,000 s.f. at the Union Dallas in Uptown

TENANT REPS: Clay Smith and Mark Newman with JLL

LANDLORD: RED Development, represented by

CBRE | UCR

DETAIL: The grocery store will anchor the Union, a project that will total approximately 800,000 square feet, at Field Street and Cedar Springs Road. It’s slated to open in 2017.

 

3. CINEPOLIS LUXURY CINEMAS

SIZE: 44,000 s.f. at Victory Park Lane and High Market Street in Victory Park

LANDLORD: Victory Park UST Affiliate, represented by Kerby Smith and Stacy Barton of Trademark Property Co.

DETAILS: The entertainment company will open an eight-screen, 700-seat luxury theatre as a part of Victory Park, a 75-acre development surrounding American Airlines Center.

 

4. FITNESS NATION

SIZE: 40,000 s.f. at 1805 Airport Fwy in Bedford.

TENANT REP: Maury Levy of CBRE | UCR

LANDLORD: Sidelock Properties and ETB Properties LLC

DETAILS: Fitness Nation will open its second DFW location in Bedford. It signed a 10-year lease with expansion options. The new center is slated to open August 2015.

 

5. BEST BUY

SIZE: 32,570 s.f. at Pleasant Run Towne Crossing in Cedar Hill

TENANT REP: Susan Ridley of The Retail Connection

LANDLORD: Retail Properties of America, recommended by Kendall Ibsen, Jack Weir, and David Levinson of TRC

DETAILS: Best Buy will join other big-name retailers at the 225,028-square-foot Pleasant Run Towne Crossing, located off U.S. Hwy. 67.