“As long as developers continue ‘going vertical’ with exciting, amenity-rich products, companies will continue to pursue new office space to recruit and retain the dynamic workforce that each company is striving to attract.”
— Jordan Wade, Associate, Transwestern
“With the overall market expected to remain healthy, some factors to watch are the continued strong regional growth and [the] market embracing new urban trends around employment centers. Also, coworking firms that are offering companies flexible, short-term arrangements along with new workplace strategies will drive prices in 2018.”
— Mike Ebbitt, Associate, Lee & Associates
“E-commerce continues to propel demand for big-box industrial space. Even more encouraging is organic growth we’re seeing in the demand for shallow-bay space. This has led to record-low vacancies at infill locations, which pushes rental rates and encourages redevelopment of obsolete product—all signs of a healthy and maturing industrial market.”
— David Eseke, Director, Cushman & Wakefield
“Retail occupancy should remain stable in 2018. Retailer store downsizings and closings should be offset by the limited amount of speculative retail development. Continued positive economic news also helps. 2018 should be another solid year for retail in DFW.”
— Steve Gray, Managing Principal, Coldwell Banker Commercial Advisors
LARGEST OFFICE LEASES
1. NTT DATA
Location: Campus at Legacy West in Plano
Size: 233,000 square feet
Tenant Reps: Steve Jarvie with ESRP Real Estate
Leasing Agent: John Conger with Colliers International
Details: The Japan-based system integration company will move out of its Plano Parkway campus and into the Dreien Opportunity Partners’ Campus at Legacy West in 2018.
2. GARTNER INC.
Location: 6011 Connection Drive in Irving
Size: 152,086 square feet
Tenant Reps: Randy Cooper, Andy May, Matt Heidelbaugh, and Amber Roberts with Cushman & Wakefield
Leasing Agents: Joel Pustmueller and Sarah Hinkley with Peloton, and Joe Pangburn and Damian Miller with Piedmont Office Realty Trust
Details: The Connecticut-based technology research firm signed a lease at Piedmont’s three-building The Commons of Las Colinas through 2034.
PACIFIC UNION FINANCIAL
Location: 1601 Lyndon B. Johnson Freeway in Dallas
Size: 132,237 square feet
Tenant Reps: Steven Thelen and Conor McCarthy with JLL
Leasing Agent: Duane Henley with Transwestern
Details: In addition to renewing its 88,220-square-foot lease at Browning Place II, the full-service mortgage company expanded by an additional 44,017 square feet in Browning Place I.
4. ALKAMI TECHNOLOGY
Location: 5601 Granite Pkwy in Plano
Size: 90,000 square feet
Tenant Reps: Jeff Ellerman, Clay Vaughn, and Preston Lynn with CBRE
Leasing Agents: Robert Jimenez, Aarica Mims, and Avery Bush at Granite Properties
Details: The online banking solutions company renewed and expanded its lease by 55,000 square feet at Granite Park Three, part of Granite Properties 3-million-square-foot office campus.
Location: 3232 McKinney Ave in Dallas
Size: 68,263 square feet
Tenant Reps: Craig Wilson, Randy Cooper, Dan Harris, and Wills Bauer with Cushman & Wakefield
Leasing Agent: Elliot Prieur with Gaedeke Group
Details: The Dallas-based human resources firm renewed its lease at the 263,921-square-foot One McKinney Plaza owned by Gaedeke Group.
LARGEST INDUSTRIAL LEASES
Location: 3350 Balmorhea Drive in Lancaster
Size: 920,275 square feet
Leasing Agent: Dave Anderson, Nathan Lawrence, and Krista Raymond with CBRE
Details: The Seattle-based e-commerce giant leased its sixth DFW fulfillment center in VanTrust Real Estate’s DalParc Logistics Center in Lancaster.
Location: 2820 N I-35 E in Lancaster
Size: 874,566 square feet
Tenant Reps: John Brewer, Ben Phillips, John Lashar, and Jon Varholak with Transwestern
Leasing Agent: Matt Hyman with Duke Realty
Details: Developer Duke Realty started building the furniture store’s new regional shipping hub in November with a 2018 opening date.
Location: 944 W Sandy Lake Road in Coppell
Size: 604,800 square feet
Tenant Reps: Ryan Keiser with CBRE
Leasing Agent: Nathan Orbin with Cushman & Wakefield
Details: Amazon fully leased the distribution warehouse near S.H. 121 and Freeport Parkway built in 2006.
4. WOODS DISTRIBUTION SOLUTIONS
Location: 2900 Meacham Blvd., in Fort Worth
Size: 250,000 square feet
Tenant Reps: Becky Thompson with Lee & Associates
Leasing Agent: Ryan Wood with TCRG Properties
Details: The Haltom City-based third-party logistics provider leased this distribution center in northeast Fort Worth.
Location: 2101 Reeves Place in Fort Worth
Size: 192,000 square feet
Tenant Reps: J.R. Tomlinson with Jackson Cooksey
Leasing Agent: Donnie Rohde and George Jennings with Holt Lunsford Commercial
Details: In October, Hunt Southwest leased 192,000 square feet to energy technology firm Ecolab and an additional 68,000 square feet to PODS moving and storage company in its northeast Fort Worth Riverbend West Distribution Center.
LARGEST RETAIL LEASES
1. SPIRIT HALLOWEEN
Location: 6513 Meadowbrook Drive in Fort Worth
Size: 48,248 square feet
Leasing Agent: Michael Pactor with Quine & Associates Inc.
Details: The Halloween costume, decorations, and accessories store leased temporary space during the fall at Meadowbrook Shopping Center in Fort Worth, a stand-alone property built in 1971.
Location: 6411 E Northwest Hwy in Dallas
Size: 40,002 square feet
Leasing Agent: Jeff Kittleson with CBRE
Details: Burlington will open its third Dallas store at High Point Crossing near Northwest Highway and Abrams Road, after Houston-based Ainbinder Co. completes development on the 170,000-square-foot center.
3. HOME ZONE FURNITURE
Location: 7520-7656 NE Loop 820 in North Richland Hills
Size: 36,296 square feet
Leasing Agent: Jordan Cluff with Woodcrest Capital
Details: The Texas-based furniture store has opened its 10th Dallas-Fort Worth store as the anchor in North Richland Hills’ 189,000-square-foot North Hills Village.
4. FLIX BREWHOUSE
Location: Northeast corner of U.S. Highway 287 and East Broad Street in Mansfield
Size: 35,000 square feet
Tenant Reps: Chris Corbin with Venture Commercial Real Estate
Leasing Agent: Andrew Lehner with CBRE
Details: The Round Rock-based dine-in cinema will open its second DFW location at The Shops at Broad in Mansfield in summer 2019.
5. LA FITNESS
Location: Northwest corner of U.S. 380 and Gee Road in Prosper
Size: 34,000 square feet
Leasing Agent: Amy Pjetrovic with Venture Commercial
Details: The California-based health club leased the anchor space, joining tenants such as Altitude Trampoline Park and Jamba Juice.