Last year, SimplexGrinnell moved into a 100,000-sf headquarters in Lewisville. Its Royal Freeport Tech Center space, 12,000 sf, has been up for grabs ever since. SigmaRx, the new tenant in the 80,500-sf building, was operating in smaller accommodations in Fort Worth.
John Moore of Arledge/Power Real Estate Group in Dallas represented the sublessor, a division of Tyco International Ltd. Jim Hancock of CMC Commercial Realty Group, also Dallas headquartered, bargained on behalf of SigmaRx, which is using the office space for its headquarters. SimplexGrinnell was two years into its lease when it vacated the tech center, GlobeSt.com is told.
In late July, the center was sold as Moore and Hancock were negotiating the sublease. Dallas' Today Realty Advisors hawked the 4.8-acre property in a package of six office buildings, consisting of 516,456 sf, for "north of $50 million" to a joint venture of Texas-based private investors.
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