Negotiations for the single-tenant spot got under way in April, Gardner Peavy, a Trammell Crow Co. Dallas associate, tells GlobeSt.com. He says the Internet travel agent is occupying 60,000 sf, but will take over the balance by year's end.
Peavy was part of a Trammell Crow team that included Tony Click, principal, and Denton Walker, managing director, that handled talks for PS Business Parks Inc., a Glendale, CA-base REIT. Troy Barron of Westin Commercial and Mark Daily of NAI Stoneleigh acted on the tenant's behalf in the negotiations.
Royal Tech XVIII, developed by Trammell Crow, delivered in May 2000. It is the first of two single-story twin buildings ticketed for about 21 acres that will build out the REIT's holdings in Irving. Peavy says work on the second 101,000-sf structure won't get under way until some pre-leasing is lined up. PS Business Parks owns and operates 140 commercial properties, totaling about 12.6 million net rentable sf, in 11 states.
GetThere.com has relocated from a smaller location at Park West, also in the Las Colinas-Freeport submarket. The tenant is considered a pioneer of Internet-based travel reservation technology.
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