In a strong show of renewed optimism for office leasing, Bradford Commercial Real Estate Services has completed 11 new leases and renewals, totaling 41,282 sf, for landlords of mid- and high-rise buildings in North Texas.
“Office tenants are making decisions again. For a long time, it was wait and see,” says Richmond Collinsworth, a senior vice president and managing partner of the Dallas-based brokerage firm who was involved in 10 of the 11 deals. “There clearly is renewed optimism in the financial markets enabling businesses to move forward with long-term clarity.”
One of the larger transactions, totaling 11,741 sf, is a renewal and expansion by the Texas Alcoholic Beverage Commission in Arlington Downs Tower, 2225 E. Randol Mill Rd., Arlington. Collinsworth and Erik Blais, a senior vice president with Bradford, represented the landlord, Bradford ADT Partners LLC, in talks with the state agency’s broker, Jim Montgomery of Swearingen Realty Group.
Also at Arlington Downs Tower, R&D Financial Group has re-upped 1,302 sf. The Bradford team negotiated the renewal directly with the longtime tenant.
In Dallas, Bradford has secured the following new leases:
▪ O’Brien Engineering Inc., 6,229 sf in Bent Tree Green, 17300 N. Dallas Parkway. Collinsworth and Melanie Hughes, one of Bradford’s senior vice presidents, represented the landlord, Bradford BTG Partners LLC. Kevin Finch of Finch Commercial Real Estate Inc. was the tenant representative.
▪ The Meninger Clinic, 2,456 sf, in Highland Park West, 4300 MacArthur Ave. The Bradford team of Jared Laake, first vice president, and Collinsworth, represented the landlord, 4300 MacArthur Partners LP, in the direct deal.
▪ Crystal Frasier Weddings & Events, 623 sf in Boll Street Office, 2510 Boll St. Laake represented the landlord, Little Paw Knocking LLC, in direct talks with the tenant.
On the renewal front, Bradford has re-upped two tenants in Meadow Central, 10300 N. Central Expressway, also in Dallas – Medical Contracting Services Inc., 4,325 sf, and Dr. Susan Hill, 1,077 sf. Collinsworth, Laake and Bradford’s Stewart Fuller, a broker associate, represented the landlord, Meadow Central LLC. The larger deal was negotiated directly with the tenant. Garrett Levy of Holt Lunsford Commercial was the tenant representative for the psychologist.
Bradford’s office leasing activity also included a 12,386-sf lease with Tokyo Electron U.S.
Holdings Inc. for space in Gateway Central, 4616 Highway 75, Denison, in Grayson County. Laake and Collinsworth represented the landlord, Covenant Denison Holdings LLC, while Kendall King Cantele and Stan Irwin of HPI Corporate Services Inc. served as tenant representatives.
In Collin County, AJ Physical Therapy Plus LLC has leased 1,143 sf in Preston Pointe Centre, 1400 Preston Rd., Plano. Hughes and Collinsworth represented the landlord, 1400 Preston Rd. LLC, in the direct deal.
Collinsworth foresees a healthy future for office leasing in the coming year. “Our pipeline continues to stay strong with tenant activity,” he says. “Tenants in our clients’ projects are mostly local decision-makers who value in-person collaboration on a daily basis. Flex and work-from-home organizations now see the difference it can make.”
