X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

COPPELL, TX-In line with a mid-June prediction, a pair of class A flex leases has pushed the 10-month-old Vista Point II to 100% occupancy, driving the owner to rev up construction plans for three more buildings. Meanwhile, another owner of a nearby building has edged its occupancy to 90% due to a tenant expansion.

At Vista Point II, Direct Buy Inc. took 17,324 sf in Dallas-based Jackson-Shaw Co.’s 611 State Highway 121 and SW Sales signed for 10,594 sf at 615 State Highway 121. Less than a mile away in Lewisville, INX Inc. took 28,479 sf in Waters Ridge Tech Center I at 1955 Lakeway Dr., owned by the Vantage Cos. in Dallas. Space in both developments is tagged at $11 per sf to $12 per sf triple net.

In mid-June, Tim O. Terrell, senior vice president and partner for Dallas-based Stream Realty Partners LP, told GlobeSt.com that the Vista Point II deals were practically in hand. With both now done, ground is expected to break later this month on an estimated 100,000-sf park expansion.

Direct Buy Inc. of Sunnyvale, TX signed a seven-year lease to set up a showroom in a 30,200-sf building and local firm SW Sales inked a five-year deal in the 35,580-sf sister structure in bargaining rounds that went full circle in 60 to 90 days, Terrell says. Vista Point II “competed heavily with other buildings in the area,” says Terrell, who teamed with Stream managing director and partner Chris Jackson to snag the Direct Buy win.

In the case of SW Sales, Terrell says it has been a Vista Point I tenant since October 2002, but will add 6,294 sf in the relocation and tack three years onto the term to keep it in place until 2011. LJ Erickson with Duggan Realty Advisors LLC in Dallas represented Direct Buy while SW Sales worked out a direct deal.

Terrell says INX, a two-year tenant also wanting to expand, took another 4,400 sf in a co-terminus addition to an existing lease that runs out in 2010. “This really couldn’t go anywhere else,” he explains. “They did a good job early on of building in expansion language so it wasn’t conducive to going anyplace else.” The Houston-based company’s network operations center will take up one-third of the 91,670-sf Waters Ridge Tech Center I when it gets the other keys in 60 days. Alan Thomas with Dallas-based Swearingen Realty Group LLC represented INX.

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
  • 1 free article* every 30 days across the ALM subscription network
  • 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
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.