The ElkCorp headquarters deal has been in the market for nine months to a year as class A building owners put their best deals on the table. "We knew for a quality tenant like ElkCorp that we'd have to be at market," Mike Pierre of Wilcox Realty Group tells GlobeSt.com. "It was an aggressive market deal." The terms are so closely guarded that he won't even stay if it was stair-step lease that won the nod. The building at 14911 Quorum Dr., though, has a quoted rate of $18.50 per sf plus electric.
ElkCorp is planning to occupy Sept. 1, meaning finish-out will start any day at Corporate Centre. The leasing team of John Conger and Pierre delivered the deal for building owner, Centre Development Co. of Dallas.
ElkCorp will vacate about the same size office in the nearby Wellington Centre at 14643 Dallas Parkway. Greg Langston, Terry Quinn and Suzan Davidson, all with Dillon Corporate Services Inc./CRESA Partners Dallas represented ElkCorp.
"Everyone worked hard to make it happen," Pierre says. ElkCorp, a manufacturer of roofing materials, will get its name on the 187,852-sf building as a result of deal making that boosted occupancy to 73%.
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