Sam Hocker, senior vice president in Grubb & Ellis Co.'s Dallas office, tells GlobeSt.com that the deal was in the market nearly one year, with the site search limited to Las Colinas. "It's just a good location for them. We were able to work it out," he says of the lengthy talks with Dallas-based Orix Capital Markets LLC for the 100 E. Royal Lane office building.
To secure the signing, the owner let FSN swap space on the second floor of the three-story building for more room at street level for its broadcast studio, according to Hocker. The 150,000-sf Frazier King Building, with 34,500 sf still to fill, carries a quoted rate of $21 per sf plus electric. Chuck Sellors with Peloton Real Estate Partners of Dallas represents Orix, which also tossed in a tenant-improvement allowance. Despite the Fox's technical needs, Hocker says there were "three or four" options that could have accommodated the network's regional operation.
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