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DALLAS-Trizec Properties Inc. and a three-year tenant have capped about five months of talks with a 33,296-sf renewal that pushes the ending term through 2012.

The final signing keeps Alon USA’s headquarters intact on the second and third floors of Park Central I at the intersection of LBJ Freeway and North Central Expressway. “We made a mutually beneficial deal,” Bill Brokaw, Chicago-based Trizec’s leasing manager in Dallas, tells GlobeSt.com of the talks to hold onto the class B building’s lead tenant.

To Brokaw’s knowledge, Alon opted to talk rather than shop for a relocation site. “They have a very nice build-out,” he explains, noting the solid relationship between building owner and tenant. And, he says, the deal was leveraged with sign visibility from the freeway.

The two-building Park Central complex is positioned in a submarket battling rates due to a major highway construction project. The 270,000-sf Park Central, Brokaw says, remains 84% filled with the renewal. “In the LBJ market, that’s a great occupancy,” he points out.

Alon, which re-upped the same amount of office space, was represented by Richard L. Culler and Carter N. Shillig, an office and corporate services’ team for Dallas-based Henry S. Miller Commercial. Alon USA, a division of an Israeli company, owns Fina-brand gasoline stations and convenience stores plus entered the region’s multifamily market last year.

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