DALLAS – After scouring the market one year for expansion space, A10 Capital LLC has inked a seven-year lease for half of the penthouse floor in Canal Centre, a class A office property on the bank of Lake Carolyn in the Las Colinas Urban Center.
The commercial real estate lender is more than doubling in size, leasing 8,160 sf on the 10th
floor of 400 E. Las Colinas Blvd. in Irving. A10 Capital will relocate in early January to space previously occupied by ESPN in the 240,000-sf office building. The lease includes a right of first refusal on 4,003 sf of vacant space on the penthouse level, monument signage and an amenity package with free access to an upgraded fitness center and conference room.
“Once we saw this space, we knew it was perfect for the Dallas team’s headquarters office,” says Richmond Collinsworth, vice president of Dallas-based Bradford Commercial Real Estate Services. “The upgraded amenities were a major draw for A10 Capital as were the view and prestigious address.”
Boise, Idaho-based A10 Capital, a leading commercial real estate lender to the U.S. middle market, has been slowly expanding its team and services since opening the Texas office four years ago in 3,496 sf at nearby Crestview Tower. The new office is being designed for 25 professionals in management, loan origination and credit and asset management.
“A10 really needed to expand because it is now offering permanent loans, which is a great benefit to its clients,” Collinsworth adds. The lender’s initial focus in Texas was CRE bridge loans for all sectors and product types.
A10 offers a full-service platform with seamless conversion from a short-term bridge loan to non-recourse permanent financing for stabilized properties. It also has the capability to finance distressed debt purchases. Loans range from $1 million to $20 million per property.
Canal Centre and the attached six-story parking garage delivered in 1983 on a three-acre lake-front tract. Amenities include on-site property management, Wi-Fi café, 24/7 security and an eclectic mix of highly ranked restaurants and retail within walking distance. Also attractive to tenants is the property’s close proximity to Dallas/Fort Worth International Airport and Downtown Dallas. The landlord, Canal Centre LLC, was represented by Marc Grossfeld and Tabitha Layne of Sunwest Real Estate Group.
November 7, 2016