DALLAS – Covenant Denison Holdings LLC has selected Bradford Commercial Real Estate Services to lease the 140,000-sf Gateway Central, the largest class A, multi-tenant office building in the Sherman/Denison submarket.
The 29.8%-leased office building, located at 4616 US Hwy. 75 in Denison, is adjacent to the 414-bed Texoma Medical Center and five minutes from the Texoma Health Foundation Park, a 66-acre regional amenity in Gateway Village. The Bradford team of Richmond Collinsworth, executive vice president and managing partner, and Jared Laake, vice president, will be leasing the project.
"We anticipate the Sherman/Denison market is going to be one of the largest opportunities in the region for commercial real estate in the next few years," says Julianna Brooks, director of business development and strategic relationships for Dallas-based Bradford. She sourced the firm's newest assignment.
Covenant Development, led by Tom Johnson, has converted the once single-tenant building into multi-tenant use. The two-story structure, completed in 2007, is positioned on a 15-acre tract at one of the entrances to Gateway Village, a 600-acre mixed-use, master-planned healthy lifestyle community.
Sherman/Denison is no longer a rural outlier, but rather emerging as a development opportunity bolstered by Lake Texoma, a year-round recreational/tourist attraction, and Texas Instruments' decision to construct a semiconductor wafer manufacturing plant. Gateway Central is five miles from TI's site and four miles from the Texas-Oklahoma border, home to the 776-room Choctaw Casino & Resort in Durant, Okla.
"Some of the best leasing opportunities for Gateway Central are in professional offices and medical office space," Brooks says. "This area is destined to grow, much like Allen did a few years ago."
Gateway Central will feature a full-service cafe resembling a well-appointed restaurant. Other amenities include a conference center, fitness center and outdoor gathering space. "Sherman/Denison is a new market for Bradford. We want the city to know we are embracing its growth," Brooks says. "Richmond and Jared are well-suited to grow brokerage services in this area."