SCORECARD: SUMMER 2017



The overall markets for office and industrial leases remain strong in the Dallas-Fort Worth area. Companies continued to move to Dallas-Fort Worth, many seeking amenity-rich buildings in prime locations. The retail sector saw several large lease deals throughout the area. Here, we examine the top five office, industrial, and retail leases in the past three months throughout North Texas. As always, data is provide by Xceligent Inc.

 

ON-THE-GROUND INSIGHTS:

 

OFFICE:

 

Russell CosbyExecutive Vice President JLL

“Companies are looking for efficient, economically sound commercial real estate solutions with the desired amenities in the right location. They want access to targeted labor pools, and flexibility to maximize workspace layout and give them opportunities for long-term growth.” 

 

Dean CollinsManaging Director, Cushman & Wakefield

“Activity in the first half of 2017 has been strong. We felt an immediate uptick in activity at the start of the year, and it has not let up. North Texas remains at the center of relocation opportunities, and established companies continue to view Dallas as a priority expansion market.”

 

INDUSTRIAL

 

Trey Fricke Co-managing Principal, Lee Associates

“Proximity to quality labor is a major factor in final distribution center selection, as many of the modern-day distribution centers contain more fulfillment and require much more labor.  For e-commerce, the employees’ accuracy in completing orders can directly affect the company/customer relationship.”

 

RETAIL 

 

Steve GrayManaging principal, Coldwell Banker Commercial Advisors

“Retail occupancy should continue to increase due to the population and employment growth in DFW. With the limited vacancy and the high cost to deliver new space, rents should remain strong. Grocers and restaurants are driving most of the new retail development.”

 

LARGEST OFFICE LEASES


 

1. COMERICA BANK

SIZE: 222,000 square feet

TENANT REPS: Comerica’s Michael Venetis and CBRE’s Phil Puckett, John Woolsey, Harlan Davis, and Jamie Dingeman

LEASING AGENTS: Ken Moczulski, Joel McCarty and Mike Silliman of Landlord M-M Properties

DETAILS: Comerica extended its lease at its namesake tower at 1717 Main St. in downtown Dallas. The financial services company renewed through September 2028. 

 

2. NTT DATA

SIZE: 152,000 square feet

DETAILS: The giant Japanese IT company signed a 10-year lease for an additional 25,000 square feet at the 14-story One Legacy West, bringing its total footprint in the building to 152,000 square feet.

 

3. BAKER BOTTS

SIZE: 104,000 square feet

TENANT REPS: CBRE’s Phil Puckett and Harlan Davis

LEASING AGENTS: Ramsey March, Sara Terry, and Scott Sowanick of Stream

DETAILS: The Baker Botts law firm renewed its 104,000 square feet of office space at Trammell Crow Center at 2001 Ross Ave. in Downtown Dallas. Baker Botts will rebuild its entire space.

 

4. ANSIRA PARTNERS

SIZE: 88,084 square feet

TENANT REPS: Colliers’ Daniel Rudd and Billy Vahrenkamp

LEASING AGENTS: Shannon Brown and Celeste Fowden of CBRE.

DETAILS: The data-driven marketing firm with head offices in St. Louis and Dallas is leasing 88,084 square feet of space on four floors of the Three Galleria Tower.

 

5. STREAM ENERGY 

SIZE: 55,000 square feet

DETAILS: The energy provider moved its headquarters from the Infomart building in Dallas into Cawley Partners’ brand-new Tollway Center at 14675 Dallas Parkway in Dallas. The building is Stream’s Class A headquarters and was designed by Corgan.

 

 

LARGEST RETAIL LEASES


 

XCHANGE LEASING

SIZE: 27,000

LEASING AGENTS: Todd Hawpe and Jeff Givens of Transwestern

DETAILS: Xchange Leasing, a leasing option aimed at Uber drivers, signed a new lease for 27,000 square feet of retail space at 2301 Southeast Loop 820 in Fort Worth with Cidema Three.

 

NATURAL GROCERS - KELLER

SIZE: 15,000 square feet

TENANT REPS: Clay Mote and Tim Henson of Venture Commercial Real Estate

DETAILS: The Keller location for the grocer will be on a 1.5-acre site at the northeast corner of Keller Smithfield Road and FM 1709/Keller Parkway.

 

NATURAL GROCERS - FORT WORTH

SIZE: 15,000 square feet

TENANT REPS: Clay Mote and Tim Henson of Venture Commercial Real Estate

DETAILS: The new retail locations will open in the fall of 2017. This location is a 2-acre site at 5210 North Tarrant Parkway east of Park Vista Boulevard in Fort Worth.

 

REDLINE ATHLETICS

SIZE: 13,000 square feet

TENANT REPS: David English of Ridge Pointe Real Estate

LEASING AGENT: Scott Rose of Structure Commercial

DETAILS: Redline Athletics, a youth athletic training company, leased 13,000 square feet of retail space at 3178 Lavon in Garland. 

 

WEST ELM

SIZE: 10,500 square feet

LEASING REP: The Woodmont Company

DETAILS: The furniture and home furnishings retail chain operated by Williams-Sonoma has leased 10,500 square feet of space to locate a store at 2868 W. 7th St. at Currie St. in Fort Worth.

 

LARGEST INDUSTRIAL LEASES


 

GEODIS LOGISTICS

SIZE: 1.011 million square feet

TENANT REP: CBRE’s Ann Huntington

LEASING AGENTS: MEPT Gateway/Pinnacle Park LP

DETAILS: Geodis Logistics renewed its lease for 394,000 square feet, and expanded by 617,000 square feet at 3700 Pinnacle Park Blvd. in Dallas. 

 

S&S ACTIVEWEAR

SIZE: 493,000 square feet

TENANT REPS: Cushman & Wakefield’s Mark Collins, Dean Collins and Britt Casey 

LEASING AGENTS: Trey Fricke, Reid Bassinger, and Becky Thompson of Lee & Associates 

DETAILS:  S&S Activewear leased 493,000-square feet at 35/820 @ Mercantile Center, where it plans to open its new fulfillment center by the end of 2017. The 657,000-square-foot warehouse and distribution building was developed on a speculative basis by Hunt Southwest. 

 

ALPHA BRODER

SIZE: 358,000 square feet

TENANT REPS: Cushman & Wakefield’s Stuart Smith 

LEASING AGENT: CBRE’s Steve Trese and Wilson Brown

DETAILS: Alpha Broder renewed its lease for 358,000 square feet of space at 1040 Trade Ave. in Dallas. The landlord is GPT Trade Avenue. Owner LLC.

 

KRAFT HEINZ CO.

SIZE: 260,959 square feet

TENANT REP: David Sours of CBRE

LEASING REP: Kevin Kelly of CBRE for Westmount Realty

DETAILS:  The global food and beverage company signed a lease for 260,959 square feet of industrial space for a new distribution hub in Garland’s Logistics Pointe Garland complex at 2600 McCree Road.

 

JELD-WEN

SIZE: 175,000 square feet

TENANT REPS: Gary Collett and Jean Russo of Cushman & Wakefield

LEASING AGENTS: Cannon Green and Luke Davis of Stream Realty

DETAILS: Jeld-Wen, one of the world’s biggest window and door manufacturers, renewed its lease at Main Street Distribution Center at 2510 West Main St. in Grand Prairie.