ARLINGTON, Texas – After eyeing the market for new space, the Texas Alcoholic Beverage Commission (TABC) has decided to lease the balance of its floor in Arlington Downs Tower to expand the Region 2 office. A spate of new deals and a few pending ones will soon push occupancy above 90%.
Construction is just getting started on the agency’s 14,666-sf office, which services the Dallas/Fort Worth metroplex stretching as far north as Tyler and surrounding areas. It is the largest tenant in the 87,411-sf building, located at 2225 E. Randol Mill Rd. in the heart of Arlington’s Entertainment District.
Erik Blais, market director of Dallas-based Bradford Commercial Real Estate Services, and Richmond Collinsworth, vice president, represented the landlord, J&F Investments GP, in direct talks with TABC and six other lessees, two of which are new to the market. The stack of deals totals 22,671 sf.
TABC has signed a seven-year renewal and expansion, scooping up the remaining 1,290 sf on the second floor for its regional team, one of five statewide. “TABC did look around, but the ownership gave them an essential tenant-improvement package to modernize their space,” Blais says.
The Bradford team’s deal stack includes market newcomers, Main Street Renewal LLC and Patient Care Intervention Center, which leased 3,161 sf and 613 sf, respectively. Main Street Renewal is a privately owned home-leasing company that purchases single-family properties and converts them into rental units. In addition to Arlington, the company has offices in Houston and San Antonio and 12 other states stretching from Florida to Minnesota and throughout America’s heartland.
Also signing leases for Arlington Downs Tower are: The Parks Group, 1,719 sf, and Care Review Inc., 903 sf, both renewals; and Well Group Products, 1,018 sf, and Harish Dand, a certified public accountant, 591 sf.
“Arlington Downs Tower’s full-service competitive lease rate has allowed us to get these deals done,” Blais says. “We’re getting a lot of traction in this building because of the rate and the hands-on local ownership.”
The class B office building presently has 31 tenants, with leases running on average below the 3,000-sf mark. The diversified mix includes a staffing agency, several law firms, medical providers, accounting, architect and a Texas Liquor License office.
Arlington Downs Tower has an on-site management office, ample parking, tenant break area and a 1,300-sf shared conference room with seating for up to 40 people. The conference room is located on the penthouse floor, which also houses the largest block of available space, totaling 7,409 sf and offering views of AT&T Stadium. Also close by are Six Flags Over Texas, Globe Life Park, Hurricane Harbor and the city’s convention center.
August 19, 2016