The three-year tenant, sealing the deal about one year early, will relocate the division to 2901 Trade Center Dr. in six to eight months, Tom Lynn, president of corporate services for Dallas-based Robert Lynn Co., tells GlobeSt.com. The catalog group, including the photo shop, presently offices at 1649 W. Frankford St., also in Carrollton.
Lynn says the home decor giant "looked at all scenarios" in Waters Ridge near Lewisville, Valwood and Coppell before deciding to stay put in the same amount of space. "The landlord really made an attractive deal in both rent and interior improvements," he says. The upgrades will exceed "several hundred thousand dollars," he says. The 250,000-sf building, staying fully leased with the deal, is positioned in a submarket with quoted rates ranging from $3.83 per sf to $7.68 per sf for industrial product, according to CB Richard Ellis Inc.'s midyear report.
"It's one block from the headquarters so logistically it made sense," Lynn says. "We decided against disrupting the business by moving." Jim Brice with Holt Lunsford Commercial in Dallas represented the property owner, Principal Financial Group of Des Moines.
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