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PLANO, TX-With the leases now signed, details have come out about the first two office tenants for the 214,112-sf One Legacy Circle. The back-to-back leases have closed off 77,072 sf in the eight-story class A building.

Markel Service Inc., a Glen Allen, VA-based property and casualty insurance company, is planning an Oct. 1 opening of its first Texas office, securing its 16,988 sf with a seven-year lease at 7500 Dallas Pkwy., according to Charlie Otte, an associate with Dallas-based Stream Realty Partners LP. The second long-term lease was inked by Altair Global Relocation, which tapped 60,084 sf on part of the first floor and all of two and three for its headquarters. Altair is planning a first quarter 2009 move-in.

“Technically, we were the first to get the lease signed, but they were close behind,” Otte tells GlobeSt.com. He adds that Markel included expansion rights for the balance of the fourth floor in its lease, which went full circle in less than 60 days.

Otte says Markel’s search initially was for a 10,000-sf to 15,000-sf office, confining the hunt along the North Dallas Tollway. But, he says the requirement was increased because “it was important to them to have an ability to expand.” Although the corridor presented a number of options, Otte says the dealmaker was Legacy’s mix of hotels, shops and fitness club beside the mid-rise, which was completed earlier this year.

“Markel moved quick and got right to the point,” Otte says about his client, a division of the publicly traded Markel Corp. “I think we got a good market deal. They were anxious to get a good credit tenant and kick off the building with Altair.”

According to the North Texas Data Exchange, Altair’s 120 employees will be moving from 40,000 sf at Tollway Plaza I at 16000 Dallas Pkwy. Altair’s executives and its Dallas-based Staubach Co. brokers, executive vice president Kelly Kackley and vice president Greg Burns, didn’t return telephone calls by deadline to discuss the stair-stepped lease. Also unavailable for interviews was the owner’s team, David Reed, senior vice president, and Burson Holman, senior associate with CB Richard Ellis in Dallas and David Noble, principal with Trammell Crow Co., which owns the building in a joint venture with Des Moines-based Principal Real Estate Investors. The asset, with an Energy Star rating, carries a quoted rate of $28 per sf plus electric.

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