13,434 SF in Five Office Leases Close

Provident Realty Advisors of Dallas will take over all the office space and the balance of the term of Converium Reinsurance Inc.'s Lincoln Center I lease. Provident moves in Aug. 1 to a 7,386-sf office that's been subleased for a rate in the "mid- to high teens, net of electricity," Noel Hutcheson with Cushman & Wakefield of Texas Inc. in Dallas tells GlobeSt.com.

The New York City-based Converium exited the ninth-floor office at 5400 LBJ Freeway in Dallas at the beginning of the year after a stay of about five years. Hutcheson says the "plug and play" deal has been under negotiation since Feb. 1. The sublease, which runs through March 2007, kicked in July 1. Finish-out is under way.

The Converium space quickly delivered a taker due to the creditworthiness of the sublandlord, Hutcheson says. "So," he explains, "we were flexible with them." He and C&W's Rick Hughes represented Converium, an underwriter of property, professional liability and casualty office risks in the US. Tim Terrell of Dallas-based Stream Realty Partners LP represented Provident Realty, now at 17440 Dallas Parkway.

In Arlington, BestCare Home Health Services took another 1,600 sf to push its lease to 2,763 sf in the Governors Row Office park at 2021 E. Lamar Blvd., says Beaux Riley of SCM Real Estate Services in Arlington. Riley represented the local building owner, Governor's Row Investment LP, and the tenant, who signed a three-year lease for the re-sized office after just 18 months in the building.

Riley also put Cal Farley's Boys Ranch in Amarillo into 1,431 sf at Governors Row Office Park at 2001 E. Lamar Blvd. The organization signed a three-year lease for an office that will be used for fund raising and counseling for parents. Brian Graham of CB Richard Ellis Inc. in Dallas represented the non-profit organization.

Dr. David B. Campbell penned a seven-year lease for his 10-year address in the Chase Bank Building at 3200 Broadway St. in Garland. The dentist added 373 sf for a total of 1,804 sf in a deal single-handedly put together by Riley. Garland Associates is the building owner.

Brazos Logistics Inc., headquartered in Lubbock, moved from sublease to direct on a 1,213-sf office at Metroport Office Building at 2300 Valley View Lane in Irving. The 11-month tenant signed a three-year lease, says Riley, who represented the Dallas-based investment group owner. Rick Renzi of Insignia/ESG's Dallas office brokered the terms for the tenant.