University officials will get keys in December to most of the first floor of Hall's 3211 Internet Blvd., driving a relocation from International Business Park in Carrollton. "They really wanted to get a foothold in the middle of Collin County," Michael Griffin, senior director for Fort Worth-based NAI Stoneleigh Huff Brous McDowell, tells GlobeSt.com about a five-year lease that came out on top of five other buildings and land considerations.
Griffin says the academic center has been in International Business Park for four years, with one year remaining on its lease. Not only did officials want a more centralized location, but they also needed expansion room. The new deal practically doubles the campus' size and puts it closer to the majority of its 1,200 students in Collin County. The facility, DBU-North, will be up and running for the spring 2006 semester. The finish-out is about to get under way on the shell space.
The 3211 Network Blvd. lease was at the bargaining table about six months, according to Griffin. The final agreement includes expansion rights to the balance of the first floor in a three-story building with a quoted rent of $22 per sf plus electric. Building owner Hall Financial Group had its leasing director, Jean Farris, negotiating its terms.
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