Largest Leases - Spring 2018



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.

ON-THE-GROUND INSIGHTS

OFFICE:

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?’”

INDUSTRIAL:

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.”

RETAIL:

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.

3. ROLLS-ROYCE
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. 

4. HOMEZONE
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.