Executing the final leg to the two-phased space shuffle is Four Partners LLC, which signed a 5.5-year lease for a half floor in the 178,104-sf Beal Bank Center Two at 15660 Dallas North Parkway, Tim Terrell, senior vice president for Stream Realty Partners in Dallas, tells GlobeSt.com. The firm is moving from Sherry Plaza at 5949 Sherry Lane.
Terrell was the sole broker on the Four Partners lease that put the building, owned by Beal Mortgage Inc. of Dallas, at 87% occupancy with the signing. "We met the market," he says of a deal for an office property with a quoted rate of $15.50 per sf to $16.50 per sf, full service.
The property manager took over space emptied recently by Phoenix Aviation Managers, which went from 9,393 sf on the 11th floor to 10,638 sf on the 10th floor. The longstanding tenant added 5.5 years to its term to take the expiration date to September 2010, Terrell says, adding the firm extensively shopped the market in Uptown, Preston Center and North Dallas before signing to stay. Greg Langston of Dillon Corporate Services-Cresa Partners in Dallas represented the tenant.
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