X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.