Premier Business Centers Adds Three Dallas Locations

For the trio of full-floor leases, the dealmaker was ready to go space vacated by another operator, Grant Laughlin, president of Office Finders/Laughlin Commercial Realty Group in Dallas, tells GlobeSt.com about long-term deals that jumpstarted a 50-location expansion in the Western US. The fast-paced turn on space has one center open, one opening soon and the other being primed for move-in.

In the past week, the Irvine, CA-based operator locked in 22,064 sf at TriWest Plaza at 3030 LBJ Freeway. Interior planning is underway for a 367,018-sf building owned by Mack-Cali of Cranford, NJ. The structure, with 113,035 sf empty, has a quoted rent of $18.50 per sf. Molly McLeay of Mack-Cali Texas and Rick Rensi with CB Richard Ellis Inc. in Dallas bargained for the owner while Matthew Perry-Miller of Office Finders handled all negotiations on behalf of the tenant.

Premier Business Centers is putting finishing touches to the seventh floor at 5050 Quorum Dr., which just rolled to Behringer Harvard Funds of Dallas from Crescent Real Estate Equities Co. of Fort Worth. The REIT's Virginia Mulkey negotiated its terms for the 16,660-sf lease as she did for the 16,943 sf or the entire 12th floor in the 275,372-sf Crescent's Stanford Corporate Center at 14001 N. Dallas Parkway. The Stanford operation is up and running.

The 5050 Quorum is a 133,799-sf office building with 58,508 sf empty and a quoted rate of $16 per sf to $16.50 per sf. Stanford Corporate Center, with 15,547 sf open, is tagged at $19 per sf to $21 per sf.

"We are very bullish on Dallas," Laughlin says. Prior to the series of signings, the operator had 33 locations in California, Washington and Texas.