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RICHARDSON, TX-Anticipating new growth in 2007, Young & Rubicam has leased 54,752 sf for its Texas-based KnowledgeBase Marketing affiliate at Campbell Forum II, 2050 Greenville St., about five miles north of Downtown Dallas.

A representative for the New York City-based advertising and public relations firm declined to disclose the length of the lease or its value. However, area brokers familiar with the suburban submarket tell GlobeSt.com the lease is probably for 10 years in the $15-per-sf range. That would make the estimated aggregate value of the lease $8 million. Average asking gross rent in the Telecom Corridor where the 10-year-old building is located is $18 per sf.

The Young & Rubicam affiliate is relocating from North Plano Road in Richardson where the firm is occupying about the same amount of space it is taking at 2050 Greenville, Cushman & Wakefield of Texas Inc. broker Daryl Mullin tells GlobeSt.com. “The [Campbell Forum II] building is a more efficient structure for them and allows the company to plan for continued growth and expansion,” Mullin says. The building also contains a data center which was also a factor in the tenant’s decision to relocate, he adds.

For property owner Beltway Commercial of Dallas, which developed Campbell Forum II, Young & Rubicam’s relocation decision helped bring the building to 100% occupancy after it had remained vacant for about a year. Deborah Borum of Beltway Commercial represented her firm. Lawrence Gardner worked with Mullin in negotiating for the tenant. The property is less than one mile east of Interstate 75 and just north of Campbell Road in the area known as the Telecom Corridor.

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