Contractor Gives Nod to Full-Floor Lease With 10-Year Term

EMJ Corp. Feb. 1 will take over the fourth floor of the nine-story MacArthur Plaza at 5525 N. MacArthur Blvd. in Irving. The construction company's broker, Bill Dowd, vice president with Dillon Corporate Services in Dallas, tells GlobeSt.com that the stair-stepped agreement has four bumps during the course of the 10-year term, but provides an office double the size of the longtime address at 1301 W. Walnut Hill Lane, just three blocks to the west of MacArthur Plaza. The general contractor is handling the finish-out for class B-plus space emptied about a year ago by Verizon.

Dowd and Greg Langston, Dillon's principal, started the site search about five months ago, quickly short-listing the locations to two. "It became apparent very quickly that MacArthur Plaza was the ideal building for them," he says. "They didn't want to stray too far...and the building ownership offered an aggressive package to lure them to their building."

The 185,545-sf MacArthur Plaza, equipped with covered parking and on-site deli, has a quoted rate of $15 per sf plus electric. Besides the amenities, Dowd says an upgrade from a three-story, class B building to a higher profile structure with more room motivated the move for the 75-employee regional team. "Their expansion needs should be met for the considerable future," he says, adding the move coincides with the lease expiration for the Walnut Hill building.

Matt Hurlbut with Transwestern Commercial Services structured the deal for the Seattle-based pension fund adviser and asset manager, Kennedy Associates Real Estate Counsel Inc.