Farmers Insurance Exchange is planning an April move into 10,184 sf in a five-year signing that puts the group under the same roof as a sister division. The new deal takes the 45,000-sf Chisholm Place to 78% occupancy and a sure sign that it's on the road to recovery from a 2002 foreclosure.
Finish-out is getting ready to begin on the second floor at 200 Chisholm Place in Plano, an office area sitting empty since Grubb & Ellis Co. took over the assignment in September 2002, Robert Powell, the building's leasing agent tells GlobeSt.com. He says the inbound tenant previously considered the site, but then went elsewhere. "We were able to get them interested in the building again because it was under a different ownership," he says.
Farmers Life Insurance Co., a tenant for at least five years, occupies 15,000 sf on the first floor. The exchange group will be relocating from a building at Campbell Road and Collins Boulevard in Richardson.
Powell represented the building owner, ICMF III LLC, a Texas-based investment group. Dennis Negron of Travers Realty in Los Angeles handled negotiations for the insurance group.
Powell also brokered a 16,656-sf office renewal, which includes an expansion of about 6,000 sf, for George Giles & Associates Inc. at Greenhill Park, a class A office building at 14131 Midway Rd. in Addison. Better known as Right Management Consultants, it's been a tenant in the building since the 1980s, Powell says.
Powell represented the building owner, WXI/GHP Real Estate LP. Myra Maker-Martin and Bartow Harris, both with the Dallas office for Equis Corp., acted for the tenant in the five-year lease.
Odell Associates took a sublease to a 10,639-sf direct lease at 8080 Central, a class A office building at 8080 N. Central Expressway in Dallas. The North Carolina-based architectural firm inked a 10-year lease for the office.
Jim Lob and Michelle Stanley, both of Grubb & Ellis' Dallas office, represented the tenant. Building owner Equity Office Properties of Chicago used in-house representative, Andy Smith, to negotiate the terms.
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