The eight-year-old FSB Financial renewed about nine months early and added 9,500 sf to the bottom line in a long-term lease with annual bumps for 110 W. Randol Mill Rd. in Arlington, Theron Bryant with the locally based SCM Real Estate Services tells GlobeSt.com. "They started to search the market, then the landlord stepped up, got aggressive and got it done," says Bryant, who represented the building owner, Randol Oaks Ltd. of Fort Worth. The deal pitted Bryant against his boss, Gary Walker, SCM president, who's represented FSB's founder Ken Burke and president Steve Burke since 1997. The firm, a subsidiary of Southwest Securities Bank, buys and services vehicle loans nationwide.
Walker predicts the 19,000 sf, split equally between the first and second floors, will meet the firm's space needs for the next three years. The second-floor expansion, emptied about eight months ago, will be ready to occupy March 1, according to Bryant.
The lease sets up an 83% occupancy at the 38,000-sf building. The quoted rent is $12 per sf, full service.
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