LifeCare is more than doubling its office area with the move to 5560 Tennyson Pkwy. in Plano to get enough room to add a back-office function, now at an out-of-state location, to the corporate headquarters, Bo Estes with Grubb & Ellis Co. in Dallas tells GlobeSt.com. LifeCare presently has its headquarters in 20,000 sf at 5700 Tennyson Pkwy.
Estes says negotiations produced a flat-rate lease for the balance of MetaSolv Software Inc.'s term in the 50,000-sf, two-story building, owned by Duke Realty Corp. of Indianapolis. MetaSolv, which occupies a 100,000-sf building right next door, cut a "plug 'n play" deal with LifeCare, which has been retooling the floor plan to get some private offices in the open-floor design favored by software companies. Comparable space in the Legacy market is going for $18 per sf to $22 per sf.
Estes says LifeCare looked at all options in the 30,000-sf to 40,000-sf range between the LBJ Freeway corridor and Texas 121 that could accommodate the consolidation. The Duke-owned asset won the nod because it was the only single-tenant building in the lot, he says. Steve Thelen and David Cooke, both with Dallas-based Staubach Co., represented MetaSolv.
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