Office Duet Shores Up 11,596 SF

DALLAS-Texas Health Resources Credit Union has re-upped for another five years on a 9,105-sf street-level office in the 154,767-sf Search Plaza, a class A office building with a 75% occupancy. But, says the broker on the deal, occupancy will jump to 90% with the next signing, a 20,000-sf office lease that’s now out for the final signature.

Kim Butler of Transwestern Commercial Services’ Dallas office tells GlobeSt.com that the 10-year tenant definitely shopped the market before signing to stay. Texas Health Resources’ location includes a drive-through lane in the 10670 N. Central Expressway office building. Butler says she has a 20,000-sf tenant waiting to sign the final document, action that’s likely to take place in January.

Butler and Transwestern’s Blair Oden represent L&B Realty Advisors, the Dallas-based asset manager for the building’s pension fund owner. David Creiner of Jackson & Cooksey structured the pact for the tenant. The building’s quoted rate is pushing $18 per sf, according to the North Texas Commercial Data Exchange database.

Also in Dallas, a class B office at 4141 Blue Lake Circle is being outfitted for Accumed Home Health of North Texas for a Jan. 1 occupancy in a 2,491-sf suite for a second location on the Dallas side of the metroplex.

The tenant’s broker, Steven Schneider with Grubb & Ellis Co.’s Dallas office, says a quick site search turned up a handful of buildings with the three-year deal swinging to the best offer and location for the health-care provider. “It was market rate for buildings in the LBJ area,” Schneider says. John Grace with CW Dalcan Management Services Ltd. represented the Dallas-based building owner, Daltex Centre LP.