DALLAS – CMG Mortgage Inc. is increasing the size of its regional office in North Texas, inking a 10,951-sf lease in an expansion and long-term extension for class A office space in the DFW Freeport submarket.
The California-based company, which is hiring more mortgage brokers, has secured 3,350 sf adjacent to its 7,601-sf office on the first floor of Freeport Corporate Center, a two-story suburban office building at 8650 Freeport Parkway S. in Irving. The extra space will be ready to occupy this week.
Negotiations began about five months ago “as soon as the adjacent space became available,” says Kevin Brookmole, executive vice president of Dallas-based Bradford Commercial Real Estate Services, who represents the landlord, Slate Freeport Holdings LLC.
Steve Herman of Herman Commercial Real Estate in Walnut Creek, Calif., represented CMG, which has a nationwide network of mortgage offices. Both leases run co-terminus.
The 93,835-sf Freeport Corporate Center currently is 82% occupied, with two more deals under negotiation. The property’s largest tenant is Sirius XM in 37,000 sf.
“This is good value office space that’s real close to Dallas/Fort Worth International Airport, which is a real plus for companies,” Brookmole says. At the end of this month, 23,364 sf will open up on the first floor.
Freeport Corporate Center features a class A office lobby, 50,000-sf floor plates, 4:1,000 parking ratio and covered executive parking. The structure was developed in 1998 on a six-acre tract in the Freeport Business Park, where it’s within blocks of TX 114 and LBJ Freeway and midway between Dallas and Fort Worth.
October 10, 2016