"It pulled together like nothing I've ever seen," Sam Weatherby, vice president in Dallas for Jones Lang LaSalle Americas Inc., tells GlobeSt.com about the lease-up at 4929 Royal Lane by LifeGuard Benefits LLC and Insuraco LLC. Both tenants have relocated in sync with lease expirations in Southlake and Fort Worth.
The Dover, DE-based Insuraco got a 40% expansion for its regional team while Lifeguard Benefits' headquarters group also picked up extra elbow room with the 50-50 takeover of the class B office building, according to Weatherby, whose tenant rep teammate was JLL vice president Juan Escudero. Weatherby says the lease, with a combination of free and discounted rent, puts the effective comes "at just above $12 per sf." The building was marketed at $13.50 per sf plus electric.
Weatherby says the site search was focused on the Freeport submarket. "There were a few options, but none as clean as this," he adds.
Weatherby says a lease buyout opened the door for a direct deal with Dallas-based owner Charter Holdings. Stream Realty Partners LP's Campbell Henry had been marketing the empty call center, once leased to the former Wyndham Hotel & Resorts Inc.
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