Coming Soon: 101,500-SF, Class A Spec

The Texas division pulled the trigger on the project after securing Keller Williams Realty-DFW as a 10-year tenant for 18,708 sf of the six-month-old shell, according to Dan Anderson, the Texas development manager for the Sacramento-based Panattoni. The realtors will move into 850 E. State Highway 114 in June from nearby Georgetown Park along Southlake Boulevard.

Anderson tells GlobeSt.com that Keller Williams had been eyeing the class A space, but a full-building deal was in the works at the time. When that failed to close, the realty firm was first in line. Keller Williams was represented by Gary Bender with CRA Realty Advisors Inc. in Dallas.

Keller Williams is taking all of the first floor and part of the second. But, Anderson says, there's a 2,300-sf lease poised to be signed next week and several prospects for the 5,600-sf balance. The space is quoted at $24 per sf plus electric. "We think in the next month or two we'll have the building leased up," he says. "The brokers now know that the space is available so we're getting more activity."

Anderson says there also are prospects circling the 101,500-sf spec project at 950 E. State Highway 114, the largest class A space available in the submarket outside the 2.5-million-sf Solana campus boundary. Anderson and Panattoni's Texas partner Jon Napper are quoting $22.50 per sf plus electric for the office space and $18 per sf for the only retail pad site in the project. The building will deliver in Q1 2007.