Greg Biggs, Managing Director/Market Lead-Tenant Representation, JLL
“With rising rental rates, today’s tenants are trying to get as much value as possible within their office space. Building amenities, like conference centers and fitness centers, allow tenants to utilize and maximize their individual space more efficiently.”
Dan Harris, Managing Director, Cushman & Wakefield
“The more that an office environment can meet an employee’s day-to-day demands the better. On-site car washing, modernized fitness centers, dry cleaning services, etc.—amenities previously thought of as bonuses — are now par for the course.”
Nathan Orbin, Executive Managing Director, Cushman & Wakefield
“Industrial tenants are using more robotics and technology within their facilities, which is creating a need for more people and more sophisticated labor. This, in turn, is impacting building design. Developers must also plan for more parking to accommodate the higher labor counts tenants now have.”
Mike Geisler, Founding Principal, Managing Partner, Venture Commercial Real Estate
“North Texas property owners have adapted to the changing demands by welcoming tenants into retail centers that were once considered undesirable. Tenants such as restaurants, hair salons, and exercise-related businesses were once frowned upon because there were once deemed to be too parking intensive. Today, they are considered valuable traffic generators.”
LARGEST OFFICE LEASES
1. NTT DATA
SIZE: 200,000 square feet
DETAILS: NTT Data is leasing 200,000 square feet of office space in the former J.C. Penney headquarters building in Plano’s Legacy business park. The company’s U.S. headquarters is in a nearby high-rise office tower. NTT Data is the first new tenant in the $400 million redevelopment of the former Penney campus on Legacy Drive, just west of the Dallas North Tollway.
SIZE: 145,000 square feet
TENANT REPS: JLL’s Greg Biggs, Brendan Callahan, and Conor McCarthy
LEASING AGENTS: JLL’s Daryl Mullin, Chris Dugget, and Blake Shipley for Kaizen Development Partners
DETAILS: The 145,000-square-foot building is under construction, with the tech firm NetScout leasing all of the three-story structure at One Bethany for a new regional research and development office in Allen. It will house roughly 500 employees and open in summer of 2018.
3. GAINSCO INSURANCE
TENANT REPS: CBRE’s Shelby Sanders and Josh White
LEASING AGENTS: Granite Properties
DETAILS: The insurance company has signed a lease expansion for its headquarters at 3333 Lee Pkwy. in Dallas.
4. FRANKLIN AMERICAN MORTGAGE CO.
SIZE: 58,000 square feet
DETAILS: The mortgage company renewed its lease for 58,000 square feet of office space at the Towers at Williams Square in Las Colinas. The office tower is owned in a partnership between Vanderbilt Office Properties, Hillwood Urban and an investment fund managed by a subsidiary of Apollo Global Management.
5. WINSTON & STRAWN LLP
SIZE: 56,000 square feet
LEASING AGENTS: Global law firm Winston & Strawn LLP has leased 56,000 square feet of office space in the PwC Tower in the Park District development tower in Uptown. The lease covers two floors of the new building and will include signage rights.
LARGEST INDUSTRIAL LEASES
1. CAMPBELL SOUP SUPPLY CO.
SIZE: 577,000 square feet
TENANT REPS: CBRE’s Nathan Lawrence, Ryan Keiser, Seth Kelly, Jon Sarkisian, and Bill Wolf
LEASING AGENTS: CBRE’s Dave Anderson, Nathan Lawrence, and Krista Raymond
DETAILS: The company is leasing 80 percent of the 713,000-square-foot distribution building in North Fort Worth.
2. MOTIVATING GRAPHICS
SIZE: 360,000 square feet
LEASING AGENT: Hillwood’s Reid Goetz
DETAIL: The full-service printing company leased 360,000 square feet of industrial space in Alliance Westport 19 at 1624 Intermodal Pkwy. in Haslet.
3. ALLEN DISTRIBUTION
TENANT REP: JLL Senior Associate Elizabeth Jones
LEASING AGENTS: Stream Realty’s Cannon Green, Bog Hagewood, and Forrest Cook for Clarion
DETAILS: The food and distribution service company’s new warehouse will be in Northlake at Northlake 35 Business Center at 4250 Dale Earnhardt Way. The Class A property is near Interstate 35W and State Highway 114.
4. FREEMAN AUDIO VISUAL SOLUTIONS
SIZE: 201,172 square feet
DETAILS: The company has leased and moved into a new 201,172-square-foot office and warehouse building at 3801 Adler Rd. in the I-30 Business Park in Dallas. Trammell Crow built the office/warehouse project that was designed by Alliance Architects Inc. General contractor was FCL Builders.
5. KUEHNE & NAGEL
TENANT REPS: Cushman & Wakefield’s Blake Anderson, David Eseke and Chris Hillman
DETAILS: International freight forwarder Kuehne & Nagel leased 189,000 square feet of industrial space in the Valley Parkway Distribution Center at 255 Valley Pkwy. in Lewisville.
LARGEST RETAIL LEASES
1. OVERSTOCKS & BARGAINS
SIZE: 51,093 square feet
DETAILS: The big box retailer that buys inventories when retailers file for bankruptcy and then passes on the savings to customers, signed a lease in August for a retail space at the North Hills Village center in North Richland Hills.
2. BURLINGTON COAT FACTORY
SIZE: 39,996 square feet
LEASING AGENT: Weingarten’s Blane O’Banion
DETAILS: Burlington has leased 39,996 square of retail space at Overton Park Plaza Building D. The location is off of Interstate 20 in southwest Fort Worth.
SIZE: 23,000 square feet
TENANT REP: CBRE’s Robert Aycock
LEASING AGENTS: The Retail Connection’s David Levinson and Jack Weir
DETAILS: HomeGoods leased 23,000 square feet of space at 1400-1800 South Loop 288 in Denton. The landlord is 3503 RP Denton Crossing LP. HomeGoods is a home-decor retail chain featuring a variety of furnishings, bedding, kitchenware, holiday goods and more.
4. TUESDAY MORNING
SIZE: 12,000 square feet
TENANT REPS: The Retail Connection’s Jeremy Zidell, Jennifer Reynolds, and Kathleen Nash
DETAILS: The retailer leased 12,000 square feet in Denton from RR Marketplace LP.
SIZE: 27,680 square feet
LEASING AGENT: Woodcraft Capital LLC’s Jordan Cluff
DETAIL: The movie theater chain has leased 27,680 square feet of space at North Hills Village in North Richland Hills.