Baylor Finalizes 68,733-SF Class A Lease

Steve Zimmerman, principal for Dallas-based Trammell Crow Co., tells GlobeSt.com that Baylor's three full floors in the Pyramids at NorthPark Center will be ready to go in mid- to late summer. The upper three floors of 9201 N. Central Expressway are earmarked for physicians' offices.

Building owner Goddard Investment Group of Dallas bought the 145,000-sf twin office buildings early last year. The south building has been vacant on and off for several years as locally based Allegiance Telecom Inc. struggled through the tech wreck and then ended up part of the Reston, VA-headquartered XO Communications Inc. The twins were built in 1999 by Champion Partners of Dallas for the telecom giant's corporate headquarters. XO's local team occupies the twin at 9101 N. Central Expressway.

Zimmerman, partnering with TCC's Jeff Cox, says three years went into Baylor's Central Expressway corridor search. The Pyramids went on the "wish list" early on, but Allegiance exercised a first right of refusal to block talks. "It's always been the one that Baylor said 'this is where we'd like to be,'" he says. Goddard has spent six months getting the property rezoned for medical office use. Chris Taylor, Johnny Johnson and Rodney Helm with Capstar Commercial Real Estate Services represent Goddard.

The Pyramids neighbor a $50-million, seven-acre campus being developed by the Cirrus Group LLC and the WB Carrell Memorial Clinic, but Zimmerman doesn't foresee a conflict. Baylor will use its class A space as overflow for outpatient services of its flagship hospital at 3500 Gaston Ave.

The Pyramids' first floor will hold a 9,500-sf diagnostic imaging center and the second level will be outfitted with a 12,200-sf breast imaging center. All Baylor space will include room for physicians' offices. Though Baylor's rate isn't available, medical office space in the immediate area is bringing roughly $20 per sf just for the shell. Baylor's finishing touch will be two signs at the roofline.