National Telesystems Inc. signed another five-year pact for as-is space in the Northwest Service and Tech Center, a five-building flex development along Newkirk Drive in Dallas, Jerry Reis, president of Property Advisers Realty Inc. in Irving, tells GlobeSt.com. He says the firm's move-in five years ago sparked a flurry of leases that took the 155,000-sf development's 40% occupancy to 93%. "It's kind of our lucky charm tenant," Reis says.
The 17-year-old National Telesystems, occupying space at the park's gateway, sells, services and installs telecommunications systems for more than 5,000 businesses in Dallas/Fort Worth. The park is a mix of three product types with layered rental rates, Reis says.
Reis and Michael Foster, also with Property Advisers, represented the property owner, the Harbin Group LP of Fredericksburg in Texas' Hill Country. John Struble with Beer-Wells Real Estate Services in Dallas structured the renewal terms for the telecommunications firm.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.