Local Firm Locks Down 38,714 SF of Class A HQ Space

Davaco Inc., a leading provider of retail services and solutions, will double the size of the headquarters office when it relocates to 6688 N. Central Expressway, an 87%-leased, 296,624-sf high-rise, from One Park Lane in Dallas. "It took seven or eight months to get it done," M. Blair Oden, senior vice president in Dallas for Transwestern Commercial Services, tells GlobeSt.com. "There are no easy deals. It was very difficult to get done, but they all are....but we made a deal that we liked and that they liked."

Oden says the Davaco expansion search, led by Brant Bernet with Dallas-based Trammell Crow Co., was focused on the North Central Expressway corridor and was hotly pursued by all building owners' teams. The winner took the prize by negotiating a early release of floors 14 and 15 from Amerado Hess Corp., which bought Triton Energy and moved the team to Houston in July 2003. Amerado's lease expires in August 2005, according to Oden. "We were getting two vacant floors and no lease in seven months," he says, "We're really excited because this mitigates our leasing exposure in 2005."

Davaco takes one of the top spots on the 16-story building's tenant roster, getting its name on the building and first right of refusal on future space, Oden says. The building, owned by Chicago-based Transwestern Investment Co., is tagged with a $19 per sf rate.

Finish-out is under way at 6688 N. Central Expressway. The space will include state-of-the-art conference facilities, training center and design stations.

Davaco, founded as Fixture Perfect International, has been consistently recording double-digit growth. "Thanks to a steady increase in business, we now need more office space," Rick Davis, Davaco's CEO, says in a press release. The company recently bought the Cleveland-based National Construction Services to strengthen its presence in the Midwest. Davaco was named as one of the fastest growing private businesses in North Texas by Southern Methodist University's Cox School of Business. The company's client roster includes Adidas, CVS Pharmacy, Gap, Home Depot, Limited Brands and Pier 1 Imports.