Quadrum has signed for space relinquished by Agency.com Ltd., John Aldrich, president of Colliers International's Dallas office, tells GlobeSt.com. The outgoing tenant consolidated locations in a move that allowed Quadrum to cut a deal at a far lower per sf rate than its Galleria North space.
Aldrich and Mary Stoner of Colliers International brokered the relocation for Quadrum. Matt Heidelbaugh and Mark Boynton, both of Cushman & Wakefield of Texas Inc., represented Agency.com. Willowbend Center I at 2740 N. Dallas Parkway is owned by Champion Landmark WBC Ltd.
"The good news is it's fairly easy to lease up to 10,000 sf," Aldrich says of the market. "And, the tenant looking for those kind of spaces is getting good deals."
The amount of sublease space in the Dallas-Fort Worth market depends upon who's doing the talking. It had been eight million sf, with the Telecom Corridor reflecting the highest amount of available space on the market. Today, some in the industry say the barometer could be registering as high as 13 million sf. The bottom line is there's a long way to go before the level falls back to the norm of four million sf.
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