DALLAS – A locally based investment group has selected Bradford Commercial Real Estate Service
s to lease a 245,969-sf office portfolio in Greater Dallas, adopting a new strategy to increase occupancy at four properties situated in three submarkets.
The owner has shifted to one firm after years of using separate brokerage shops for the four class B office properties to end a two-month competition for the leasing
assignment. Securing the win for Dallas-based Bradford was Justin Owen
, vice president and lead broker for the portfolio's new leasing team.
"I have past leasing experience with the four properties. I walked the owner through Bradford's leasing platform and he gave us the entire portfolio," says Owen, who is partnering with Jared Laake
, market director, and Elizabeth Robertso
n, director of advisory services, on the assignment.
The new assignment is 8600 Freeport Parkway, Irving; a three-building complex at 4320, 4322 and 4324 N. Belt Line Rd., also in Irving; Central Square, 10830 North Central Expressway, Dallas; and Treepoint Plaza, 16901 N. Dallas Parkway, Addison. The portfolio is 62% leased.
"There is a diverse mix of vacancies that can accommodate tenants of all sizes in three strong submarkets," Owen says.
The larger vacancies include a 21,000-sf, two-story office project at 4320 Freeport Parkway in Colinas Business Park and the entire first floor (12,955 sf) at 8600 Freeport Parkway, a four-story building just three miles from Dallas/Fort Worth International Airport and less than six miles north of Las Colinas Urban Center.
The portfolio's openings run the gamut from open-space floor plans to heavy office. First-floor medium-size suites also are available in the Addison project, part of the Lower Tollway submarket, and Central Square, an easily accessible four-story office building with an unobstructed view of North Central Expressway.
"Activity on the spaces has been robust since we launched our leasing campaign just a few weeks ago," Owen says. "The attraction is local portfolio ownership with flexible terms and value pricing on solid class B office space in good locations."
February 11, 2019