40,800 SF of Alcatel Space Backfilled

PLANO, TX-A high-tech company has carved 40,800 sf from a 93,000-sf building leased to Alcatel, which has been downsizing its Dallas-Fort Worth real estate holdings since the fall. Alcatel’s move-out has just started at the Jupiter Distribution Center in Plano, now leased to CDS Datacomm Inc. for the next five years.

CDS Datacomm looked for six months before settling on 1100 Professional Dr., Paul Tichacek of JSC Realty Services in Dallas tells GlobeSt.com. He represented the building owner, a pension fund from the Northwest US. Tichacek admits he had to “be creative just like everyone else” at the bargaining table. Richard Carlson of the Carlson Co. of Dallas represented the tenant.

Alcatel will be vacating the 93,000-sf structure in phases, with the final move set for August 2004, according to Tichacek. CDS Datacomm gets the keys to its portion in February. Tichacek says finish-out will be starting soon at the 16-year-old, class B office/distribution building in the 90%-leased park, where rent is quoted at $5.75 net per sf.

The inbound tenant is exiting about 30,000 sf in a building at Presidential and Arapaho in Richardson’s Telecom Corridor. As for the outbound tenant, the Paris-based Alcatel’s downsizing also has a trio of buildings and 132 acres in Plano on the market as it “right sizes” for 2003.