Cornyn leased 2,491 sf at Occidental Tower at 5005 LBJ Freeway in a deal crafted by Robert Powell of Grubb & Ellis Co.'s Dallas office and Janice Peters of Henry S. Miller Commercial, also Dallas. "I feel the building's high security was an attraction to them," Powell tells GlobeSt.com about the six-year lease.
With the new deal and a 5,670-sf renewal for the tower, occupancy is 89%. Re-upping for the long-term is longtime tenant, Drake Beam Morin Inc., an employment consultant for executives. The firm also leases an abutting 9,000 sf in the high-rise.
Coming in June is World Savings & Loan, which signed for 8,040 sf at Millennium Center at 222 W. Las Colinas Blvd., one of the elite addresses being chased by tenants looking to trade up in today's advantageous market. The inbound tenant will be relocating from 6,500 sf at 161 Corporate Center, also in Las Colinas.
World Savings & Loan signed a seven-year lease for the 11th floor with "full concessions on hard and soft costs," Jim Lob, senior vice president in Dallas for Grubb & Ellis, says of a deal sparked by "the advantages of soft market conditions." The end result of the negotiations is "reduced occupancy costs, full amenity package and covered parking"...and room to accommodate the growth of "a great credit tenant," Lob details for GlobeSt.com.
Lob says Millennium Center was one of three on the short list, all concentrated in the Urban Center. Bill Lokey, vice president of Cousins Properties Texas, represented the owner of record, 114 Millennium Ltd.
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