DocuCorp Lines Up 38,865 SF for HQ Expansion

The publicly traded DocuCorp International Inc. sealed a long-term lease for space on two floors in One Lincoln Centre at 5400 LBJ Freeway to set up a move that coincides with the lease expiration at a 10-year location, Daryl Mullin with Cushman & Wakefield of Texas Inc. tells GlobeSt.com. The firm and its brokers spent nearly two years reviewing and touring class A buildings in the LBJ Freeway corridor, Richardson and North Dallas. The final face-off basically pitted the 424,404-sf One Lincoln Centre against its longtime headquarters address, Premier Place at 5400 N. Central Expressway, according to Mullin.

DocuCorp gets another 9,000 sf of office space with the move and a lower rate, Mullin says. "We definitely improved the economics over their current rate," he says. The three-building Lincoln Centre's quoted rate is $19 per sf. DocuCorp's office will take up the entire third floor and part of the fourth.

Mullin says DocuCorp employees over the last decade have been shifting residences to the northern and western sectors, much like others on the Dallas side of the metroplex. One Lincoln Centre, he says, "is a good compromise location for all their employees."Besides Mullin, C&W's Lawrence Gardner represented the tenant in negotiating the headquarters relocation. David Quisenberry with Lincoln Property Co. negotiated terms for the New York City-based building owner, MetLife Inc.