ADDISON, Texas – Houston-based Assure Fertility Partners has scooped up a newly vacated penthouse floor in Addison Tower, signing a class A office lease with a 10-year term as its inroad into Dallas/Fort Worth.
The lease includes top of the building signage for Assure Fertility Partners of Dallas LLC, which will move in Aug. 1 to the 13,841-sf top floor of the nine-story tower at 16415 Addison Rd. in Addison.
"The top of the building signage was attractive to them. They liked Addison Tower's demographics and central location," says Richmond Collinsworth, vice president of Dallas-based Bradford Commercial Real Estate Services. The 149,491-sf office property is situated two blocks from the Dallas North Tollway.
Property owner Addison Tower Investment Co. LLC is marking its fourth month with its new leasing team – Bradford's Ed Pachecano, senior vice president and managing partner, Clint Manning, associate, and Collinsworth. The new lease has boosted occupancy to 80%, up 10% since Bradford came on board.
"Activity has been strong for renewals and new interest," Manning says. "It's a value building with structured parking and many of the same amenities as the buildings along the Tollway, where rates are rising."
Amenities include an on-site deli, management office, building engineer and private airport access. Currently, the fourth floor, totaling 14,865 sf, is the largest vacancy and the smallest suite is 1,153 sf.
Construction will begin soon on Assure's space, which features four private balconies. Michael Townsend of Townsend Interests Inc. in Houston represented the fertility clinic.
"We had to be extremely responsive in order to land this deal. There were several obstacles to overcome that were challenging," Collinsworth says, "but we worked very diligently and worked together to get it done."
February 22, 2016