The Durez Corp. has unpacked in a fifth-floor office at Greenhill, now 89% occupied. Robert Powell of Grubb & Ellis Co.'s Dallas team tells GlobeSt.com that the firm moved into the office of the defunct Pagenet. Instead of going for the sublease, the building owner chased a lease termination to seal the deal with Durez. The office was vacant for about four months, but Powell had the inside track as the building owner's rep for Greenhill and Occidental to strike the relocation.
The 250,000-sf Greenhill Park is positioned at 14135 Midway Rd., a holding of Texas-based WXI/GHP Real Estate LP. Allan Wood of Dillon Corporate Services in Dallas represented the tenant. Powell confides he has several deals in Greenhill Park's pipeline to boost occupancy into the 90% category.
Occidental Tower at 5005 LBJ Freeway gets sublease tenant, JPMorgan Capital Inc., into a direct lease for the 3,831-sf office that it's occupied for 1 1/2 years. Powell was the only broker involved in the three-year pact. "It was a pretty straight forward, simple deal," he said of the terms worked out with building owner, Occidental Tower Corp. The 540,000-sf class A property remains 88% leased with the closing.
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