Infinity Broadcasting Shifting KRLD With 123-Month Lease

The New York City broadcasting company will occupy 31,254 sf with a 14,502-sf expansion, structured via a lease extension for a 123-month stay at 4131 N. Central Expressway, Lowrey Burnett with the Gaedeke Group in Dallas tells GlobeSt.com. Infinity will hold lead tenant status for the 172,945-sf building with its lineup of KLUV, KOAI, KVIL and now KRLD, which will be vacating about 17,000 sf of street-level space at Ameriquest Field in Arlington. Infinity stations KJKK and KLLI will continue to broadcast from a corporate-owned building in Dallas, Burnett says.

Burnett says the long series of talks produced a stair-stepped lease extension three years before the existing pact's expiration. KRLD will take over the fifth floor in the class A-minus office building, now sporting an 80% occupancy and a $17 per sf, full-service rate. Finish-out has yet to begin. Burnett says Infinity, owner of 180 radio stations in 22 states, also got building sign rights.

To get the fifth floor for Infinity, Craycroft Price Architects will move an office to the seventh, extending its lease by three years and adding a little extra room with a 3,200-sf pact, Burnett confides. The move will be set up in four to six weeks.

Burnett and Michael Haase, also with Gaedeke, negotiated the pact for the Dallas-headquartered building owner, Gaedeke Holdings II Ltd. Jim Cooksey and Andrew Iversen with Jackson & Cooksey Inc. of Dallas bargained on the tenant's behalf.