AT&T had 24,000 sf in the building, but stepped into anextra 14,244 sf of sublease space after lead tenant Vallen Safety& Supply Co. moved out of a 34,000-sf office. David Carter ofHouston-based Yancey-Hausman tells GlobeSt.com that Vallen wasbought out by Atlanta-based Hagemeyer PPS of North America, drivingthe office shutdown and move out of town.

The Yancey-Hausman building is 97% leased, but there is 20,000sf of sublease space leftover from Vallen's exit of the sixthfloor. The sublease space is quoted at $18 per sf, $5 less than thedirect rate for the class A suburban office building, says aninsider.

Michael Caffey of the Dallas office of Jones Lang LaSallerepresented AT&T in the lease negotiations. AT&T houses itsadministrative offices in the building.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.