Tenant representative Josh White says the company is making the move to 12201 Merit Dr. to boost efficiencies. "This is a little bit of a consolidation and they're taking a smaller footprint," says White, senior vice president with Jones Lang LaSalle's Dallas office. "The timing was great, the market was down, and we found a building that allowed them to shave excess square footage from their lease."
White, who partnered with Transwestern principal Sharron Morrison on behalf of La Madeleine, says the 18-20-month hunt for space took place up and down U.S. Hwy. 75, known as Central Expressway to the locals. "We evaluated a significant number of buildings," White remarks. "La Madeleine has a brand name attractive to a lot of building owners, and there were four or five of them willing to give it top-of-building signage; just for 15,000 square feet. They really liked the thought of that brand name being affiliated with their buildings."
The decision ultimately boiled down to Two Forest and Coit-Central Tower at 12001 N. Central Expressway. Ultimately, Florida-based Parmenter Realty, one of those willing to provide the top-of-building signage, won out. Parmenter Realty was represented in the lease by Cousins Properties vice president Matt Schendle. White says La Madeleine was comfortable with Parmenter Realty, and the recent renovations made to the building.
But White acknowledges it wasn't an easy decision. Younan Properties owns 6866 N. Central Expressway, where La Madeline now has its headquarters. "Zaya (Younan) made a compelling case for renewal," White says. "We evaluated it carefully."
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