240,600-SF Assignment Changes Hands

The 240,600-sf project, with just 53,200 sf left to fill, is back in the hands of Henry Knapek, senior vice president and development director in Dallas for the Houston-headquartered Transwestern Commercial Services. He and Greg Cannon, a Transwestern vice president, are replacing the Dallas-based TIG Real Estate Services, which carried the two-building project to the 78% mark. The flex development consists of a fully occupied 105,600-sf building at 1221 S. Beltline and a 135,000-sf structure at 1234 Lakeshore Dr., both designed for 50% to 100% office finish-out.

A Transwestern Commercial Services team was handling the three-year-old development as it came out of the ground, but then the Chicago-based Transwestern owner gave it to TIG. "They decided to come back to us," Knapek tells GlobeSt.com. "We're going to offer a nice package to prospective tenants and the brokerage community and we're going to work hard."

Cannon confides the package will include the usual free rent perk, but laced with trips to Hawaii and San Francisco. He says several brokers are running deals in the market with the tenant caliber and size now occupying Coppell Commerce Center. The chase begins with a quoted rate of $9 per sf net and $18 per sf finish-out allowance, Cannon says.