DALLAS – In a proactive move, Intercity Investment Properties Inc. has turned over leasing duties to a suburban office building in Plano’s Legacy Park to Bradford Commercial Real Estate Services.
The landlord has selected Melanie Hughes and Sharon Friedberg, Bradford’s senior vice presidents, to lease the 39,021-sf Democracy Place, a two-story office building at 5300 Democracy Dr. facing a full-floor vacancy in the near term.
“We’ve been called in to backfill the space,” Friedberg says. “Our selection was based on our past performance and success for the owner.”
Friedberg and Hughes also lease the landlord’s 74,738-sf Preston Pointe at 1400 Preston Rd., which is located in the same submarket as the new assignment. The Dallas-based brokerage team has whittled down Preston Pointe’s vacancies to three suites.
At Democracy Place, Intercity Investments will be facing its largest vacancy in recent years – 7,213 sf, the entire second floor. To incentivize the search for a full-floor tenant, the landlord is planning to add 25 shared canopy parking spaces and offering monument signage for class B+ office space with a balcony.
“I think its location is its best selling point. It’s close to the Shops at Legacy’s restaurants and retail and high-end residential communities,” Hughes says. “And when you exit the building’s elevator, you’re immediately in the office space.”
September 28, 2015