X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DALLAS-Beckett Media LP is making plans to move from its 16-year-old build-to-suit in North Dallas after negotiations to renew hit a roadblock and the publisher’s new owner laid out a new business strategy. The newly inked seven-year lease includes enough free rent to offset any overlapping time.

Beckett Media is getting a turnkey deal for the 33,642-sf, class B-plus office building at 4635 McEwen Rd., which was on the market for $9 per sf, triple net. The company is vacating an 80,000-sf, class B-plus office building at 15850 N. Dallas Parkway, which Beer Wells Real Estate Services Inc. bought in December 2005.

Kyle Jacobs with Stream Realty Partners LP in Dallas tells GlobeSt.com that the McEwen building owner, Whit Fadale, is taking care of all renovations for a building that’s been dark nearly two years, setting a plan into motion for a Nov. 1 occupancy. Beckett’s lease with Beer Wells expires at the end of December. “As long as it’s turnkey, that’s all we needed to worry about,” Jacobs says. “The catalyst for moving was really the market dynamics.”

Jacobs says the search got under way in June to find a “unique” office building in North Dallas, with short list pitting Fadale’s building against Addison Two. With the retooling, the McEwen Road building will be getting a basketball court. It already has a theater with stadium seating and full-size projection screen. “They thrive on having a fun culture,” Jacobs says.

Jacobs partnered with Stream’s Charlie Otte and Ben Sumner to find and sign a new regional headquarters spot. Sean Porter of Capstone Commercial in Dallas represented Fadale.

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.