The year got off to a strong start with not only many new leases from first-to-market tenants, but renewals and expansions that prove Dallas-Fort Worth is still a place where office, industrial, and retail tenants want to stay. Here are the top five largest leases—new or renewal—so far in 2018. Data was provided by individual firms.
Lauren Napper, Senior Director, Cushman & Wakefield
“Office rents are at historic highs in select submarkets—Uptown, Legacy/Frisco, and Preston Center—for different reasons. All three offer highly sought-after walkability. Uptown provides access to the all-important millennial workforce, rooftops in Legacy are more affordable, and Preston Center is near decision-maker homes.”
Jordan Wade, Associate, Tenant Advisory Services, Transwestern
“[Tenants are looking for] a work environment that looks, feels and reflects ‘success’ and will enhance the brand—also marrying with a long list of walkable amenities. Ten years from now, all tenants want to pass the ‘W.I’. test: ‘What Idiot approved this?’”
Melissa Holland, Senior Vice President, JLL Industrial
“There are two factors front of mind for all industrial tenants — access to labor and transportation. Tenants want to be where they can attract and retain talent, and with transportation costs increasing 10-15 percent, companies want to be close as possible to their customer base.”
Jared Skinner, Co-Founder + Design Principal, Made Design
“[Good retail design] magnifies the appeal, notoriety, and interaction with its user. It regulates the desirability, adaptability, and efficiency for converting a space. It’s not just the aesthetic allure of look and feel. It’s the invisible design — the function that reinforces how everything works and operates.”
LARGEST OFFICE LEASES
1. GUIDESTONE FINANCIAL RESOURCES
LOCATION: 5005 LBJ Fwy. in Dallas
SIZE: 113,585 square feet
TENANT REPS: JLL
LEASING AGENTS: J.J. Leonard, Sara Terry, and Chase Lopez with Stream Realty Partners
DETAILS: GuideStone will relocate to Pinnacle Tower in late summer after signing its lease in the early days of 2018.
2. NEW YORK LIFE INSURANCE
LOCATION: 4849 Greenville Ave. in Dallas
SIZE: 107,267 square feet
LEASING AGENT: Jeff Eckert with JLL
DETAILS: New York Life renewed its lease in the three-building Energy Square near Central Expressway amidst a major repositioning of the office campus that will bring more outdoor amenities.
3. SOURCECORP BPS INC.
LOCATION: 3750 W. Royal Lane in Irving
SIZE: 99,451 square feet
TENANT REP: Dan Woldert with Swearingen Realty Group
LEASING AGENTS: Blake Kendrick and Sarah Ozanne with Stream Realty Partners
DETAILS: Sourcecorp will move into Parc Royal’s Building 5, which is owned by Jackson Shaw.
4. BOSTON CONSULTING GROUP
LOCATION: 2501 N. Harwood St. in Dallas
SIZE: 69,624 square feet
TENANT REPS: Phil Puckett, Harlan Davis, and Neal Puckett with CBRE
LEASING AGENTS: Kelly Whaley and Hannah Waidmann with Harwood International
DETAILS: BCG will stay at Saint Ann Court after renewing its 2008 lease in March. Its long-term lease spans three floors.
5. HANES INDUSTRIES
LOCATION: 615 Westport Pky. in Grapevine
SIZE: 66,052 square foot lease
TENANT REP: Ryan Boozer with Stream Realty Partners
LEASING AGENT: Steve Koldyke with CBRE
DETAILS: Hanes renewed its lease at International Airport Center, which is owned by a company by the same name.
LARGEST INDUSTRIAL LEASES
1. TELLWORKS COMMUNICATIONS
LOCATION: 4101 Research Blvd. in Arlington
SIZE: 722,733 square feet
TENANT REP: Ryan Keiser with CBRE
LEASING AGENTS: John Brewer and Joe Rudd with Transwestern
DETAILS: Tellworks will fully occupy Building 1 at Park 20/360 in Arlington, which is owned by Ridge Development and Invesco Real Estate.
2. C&S WHOLESALE GROCERS
LOCATION: 777 Freeport Pwy. in Coppell
SIZE: 445,695 square feet
TENANT REP: Bob Gibson with CBRE
LEASING AGENTS: Ken Wesson and Mark Graybill with Lee & Associates Dallas-Fort Worth
DETAILS: The largest wholesale grocery supply company in the U.S. signed an expansion and extension with landlord GLP in the early days of 2018.
LOCATION: 2112 Eagle Pkwy. in Fort Worth
SIZE: 443,945 square feet
TENANT REP: Cushman & Wakefield
DETAILS: Rolls-Royce will operate a jet engine testbed at the former Texas Aero Engine Services facility owned by the city of Fort Worth.
4. EXEL LOGISTICS
LOCATION: 13601 Independence Pkwy. in Fort Worth
SIZE: 409,914 square feet
TENANT REPS: Dave Anderson and Krista Raymond with CBRE
LEASING AGENT: Tony Creme at Hillwood
DETAILS: The logistics provider will continue to be neighbors with FedEx, Walmart, and Nestle in the Alliance submarket with its first quarter renewal.
5. PROFESSIONAL PACKAGING SERVICES
LOCATION: 1400 N. Hwy. 360 in Grand Prairie
SIZE: 349,421 square feet
TENANT REP: Stream Realty Partners
LEASING AGENT: CBRE
DETAILS: Grand Prairie-based Pro Pac, which specializes in designing and installing integrated packaging lines, will open its second area location about 5 miles from its headquarters.
LARGEST RETAIL LEASES
1. MARKET STREET
LOCATION: 4268 Legacy Drive in Frisco
SIZE: 62,000 square feet
LEASING AGENT: Frederick Kippes at Regency Centers
DETAILS: The grocery chain opened its second Frisco location near Lebanon Road and Legacy Drive in January.
2. GLOWZONE FAMILY CHALLENGE ARENA
LOCATION: 2416 S. Stemmons Fwy. in Lewisville
SIZE: 46,039 square feet
TENANT REP: Colliers International
LEASING AGENT: Weitzman
DETAILS: In its first North Texas location, GlowZone will join Academy, At Home, Conn’s, and Spec’s at Lakepointe Crossing.
3. ALAMO DRAFTHOUSE
LOCATION: 8380 Davis Blvd. in North Richland Hills
SIZE: 42,000 square feet
DETAILS: The dine-in movie theater will have eight screens, more than 925 reclining chairs, and a full-service restaurant.
LOCATION: 110 W. Campbell Road in Richardson
SIZE: 30,000 square feet
LEASING AGENTS: Jared Aubrey and Michael Austry with CBRE
DETAILS: The Texas-based furniture store has been opening new locations all over the region, including in North Richland Hills and Arlington.
5. TOTAL WINE
LOCATION: Glade Parks Town Center
SIZE: 25,000 square feet
LEASING AGENTS: Steve Ewing and Josh Flores with EDGE Realty Partners
DETAILS: After Euless voters approved liquor sales in November, Total Wine opened its first store in the city at Glade Parks Town Center.