Securing state approval to expand the course lineup is what kept the lease expansion on the drawing board practically since the operator moved into 6351 Grapevine Highway, a former Montgomery Ward store in the 300,000-sf, mixed-use Richland Business Center, says John Bowles with the John Bowles Co. in Dallas. He tells GlobeSt.com that finish-out will begin in a few days so the expansion area will be ready for classes in mid-November. "It's a turnkey finish-out," he says, adding the space came equipped with vehicle repair bays. Several million dollars in a shared purse between building owner and tenant will go into retooling and equipping the space, he says.
Bowles says ATI moved into the single-story building April 30, 2004, taking 39,074 sf with a 15-year lease and a plan to take over the balance after the automotive course won the state's nod. The expansion lease runs co-terminus with the original pact, he adds.
Bowles and the firm's director of brokerage services Ed Pachecano represented the Dallas-based career school, which has eight locations in Texas, Florida and Arizona. Building owner, Today Realty Advisors Inc., used an in-house broker to structure its terms.
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