Younan's vice president, asset management John Cook says the reasons for switching from Jones Lang LaSalle's team to lease up the early 80s' office building at 12801 N. Central Expressway were similar to those that led to the switch in the Thanksgiving Tower teams last week. "We wanted to put a new set of eyes on the assignment, get a fresh outlook and see if another route would be helpful to accomplish the lease," Cook tells GlobeSt.com. "This is absolutely nothing against Jones Lang LaSalle or the performance of the building. We consider them to be a partner in our success in the D-FW area."
Jones Lang LaSalle will continue working to fill other Dallas area Younan buildings, he continues. Meanwhile, Bradford Cos.has been having a great deal of success filling the 387,000-square-foot 9400 North Central Expressway office building, a Younan-owned asset less than a mile south of North Central Plaza III. "We felt this property dovetailed with the other, so we came to the decision to use Bradford," Cook says.
Bradford Cos. Sharon Friedberg who is working the new assignment with colleague Melanie Hughes, tells GlobeSt.com that North Central Plaza III is in a location that has attracted a great deal of interest. As a result, stabilizing the 47% occupied building should be fairly straightforward. She says the quoted ask is $15.50 plus electricity, which is a little below the market rate.
"This will allow us to capture price-sensitive tenants," Friedberg explains. Also helping out is the potential for organic growth in the building. "We have an existing tenant base that is willing to stay and grow there," she comments, adding that there is no major roll for the remainder of the year.
In the meantime, Friedberg and Hughes are working deals that are in the proposal stage, and Friedberg predicts that things will pop in the coming months. All tenants are welcome, Friedberg comments, though the team would like to attract a drive-through bank. Overall, she remarks, the goal is to try to make the deals as easy and hassle-free as possible.
"We want to make it easy for tenant reps to bring us deals and close them, so they can go on to the next ones," she adds.
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