"It was image, location and timing," Todd Hubbard, vice president with NAI Robert Lynn in Dallas, tells GlobeSt.com about the 3201 Royal Lane lease. "It was one of their premier spaces left in Royal Tech." The Hartland, MI-based Dynamic Technology, which had been on a lease holdover in Fort Worth, has put teams from Richardson and Riverbend Business Park in Tarrant County under one roof.

The tenant rep says the firm's new location was retooled as 90% office, one of the chief dealmakers. "PS worked very quickly with us. They knew we were under some time constraints," Hubbard explains. The deal was struck and move-in taking place within 30 days. Burson Holman, a senior associate with CB Richard Ellis' Dallas team, represented the Glendale, CA-based PS Business Parks, which pushed the 57,088-sf Royal Tech 15 to 100% occupancy with the signing. According to CBRE, the submarket's flex space averages $7.70 per sf.

Hubbard says the firm's executive team had been weighing office sites about six months as the last step in last year's buy-out of a metrology lab competitor. A previous deal, thought to be in hand, was pulled at the last minute by a building owner who had a larger taker come along, according to Hubbard. "We quickly transitioned into this," he adds.