FLOWER MOUND, TX-FUNimation Entertainment has sealed a 48,500-sf, full-building lease in the recently delivered Corporate Ridge. The 10-year, stair-stepped lease, more than doubling the headquarters size, goes live Oct. 1.

Champion Partners’ Building One was up against three other buildings, all situated close to the Dallas/Fort Worth International Airport. Barney Sinclair, a Champion partner, tells GlobeSt.com that the decisionmaker was the rate attached to the development’s smallest building, a 75% office-25% warehouse flex design for a single user or multi-tenant. “The economics of coming to Corporate Ridge were very attractive when compared to traditional office space,” he says. “We were ready to multi-tenant if we needed to, but it’s a good size for a single user.” Corporate Ridge at 1200 Lakeside Pkwy. is a mix of several product types with a varied rate structuring based on finish-out so quotes aren’t available.

Sinclair also credits the win, in part, to in-place development incentives from the town of Flower Mound before Champion broke ground on the four-building project in Lakeside Business District. The package provides a five-year, 70% tax abatement from the city and 25% perk from Denton County. “The town of Flower Mound was really proactive. The economic development director played a big part in helping us to land this lease,” Sinclair stresses. The FUNimation Entertainment win bumps occupancy to 36% in the 477,500-sf Corporate Ridge, becoming the fifth lease for the park.

Sinclair says talks began in fourth quarter 2006 with FUNimation Entertainment, a US leader of home video sales of Japanese animation and one of the largest independent firms of its type in the nation. Rick Medinis, executive vice president with NAI Robert Lynn in Dallas, is Corporate Ridge’s leasing broker. Damian Rivera, director of corporate services for Capstone Commercial, also in Dallas, was the tenant rep.

FUNimation’s headquarters will be moving from about 25,000 sf of traditional office space at 6851 NE Loop 820 in North Richland Hills. Its Corporate Ridge building will be 100% office and will include a recording studio. The company, founded in the early 1990s, has 150 employees.

“The momentum that is building in Flower Mound is very noticeable throughout the area,” Gen Fukunaga, president and CEO of FUNimation Entertainment, says in a press release. “We know that our employees are going to enjoy being part of this great environment.”

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