Four Deals Seal 89,361 SF of Top Space

Tandy re-upped 36,567 sf and rolled in another 6,159 sf to give the national name all of floors two and three and part of the first in the 89,725-sf office building at 690 E. Lamar Blvd. The newly crafted, five-year deal lifted occupancy to 96%.

Walter Foster, senior vice president of the Newport Beach, CA-based KBS Realty Advisors, tells GlobeSt.com that tenant improvements, being done in stages with Tandy in place, will have the new space ready to occupy in two months. The balance of Tandy's office area will be done in four stages over a four-month period. KBS Realty also has raised scaffolding for exterior maintenance while just coming off an elevator upgrade at a combined cost of $500,000.

The 12-tenant building, with a quoted rate of $17 per sf, is a class B plus, perhaps even an A minus, but Foster says "it's one of a handful of the best buildings in Arlington." Fletcher Cordell of Transwestern Commercial Services represented KBS Realty. Art Leichner and Peter Williams with Jackson & Cooksey in Dallas negotiated on Tandy's behalf.

In Dallas, a pair of class A leases have occupancy resting at 47% in the 550,000-sf One Dallas Centre at 350 N. St. Paul St. A 10-year tenant, Internet America, hung onto 19,218 sf and Houston-based Document Solutions leased 5,415 sf for its first location in town. Both committed to five-year terms for flat-rate leases. Document Solutions slid into temporary space at the year's start, but is ramping up for a March 1 move into its newly renovated suite. The building newcomer was represented by Brant Bernet and Chris Hermann, both with Trammell Crow Co.'s Dallas team.

Tom Cruikshank with Jones Lang LaSalle says there are four deals working to fill another 200,000 sf and return occupancy to 90%, right where it was before the FDIC vacated in a consolidation to 1910 Pacific Ave. The recovery is being aided by a $15 per sf plus electric price tag on the downtown class A space. Cruikshank and JLL's Maschera Usrey represent the New York City-based bui1ding owner of record, One Dallas Centre Associates.

In Uptown, Westwood Management Corp. held onto 13,575 sf and added another 8,427 in the trophy Crescent at 200 Crescent Court. Michael Silliman with Crescent Real Estate Equities Co. crafted the long-term deal with Staubach Co. team, Paul Whitman and Brad Selner, who represented Westwood. Westwood Management, along with Westwood Trust, is a subsidiary of the publicly traded Westwood Holdings Group Inc.