DALLAS – In keeping with marketplace trends, the 203,108-sf Forum at Beltline in North Dallas is experiencing an uptick in demand for office space from existing tenants.
Two expansions have been completed; more are pending for the three-building project. VeriClaim Inc. has expanded its regional office to 6,896 sf and extended the lease term at 4004 Belt Line Rd. in Addison while Microsemi Semiconductor Co. has expanded its regional office to 6,906 sf at 4006 Belt Line Rd.
Forum at Beltline's campus-like setting is surrounded by the amenities of Addison's restaurant row and abuts the city's athletic club and Les Lacs Linear Park. Sharon Friedberg and Melanie Hughes, senior vice presidents of Dallas-based Bradford Commercial Real Estate Services, represent the California-based owner, ARI Forum LLC
"This project is where tenants come to grow. It happens over and over again," Friedberg says. "It has good energy, very strong stable ownership and
well-priced in a quiet neighborhood setting."
Upticks in expansions and requests for the class B office space have prompted the landlord to add spec suites of 2,600 sf and 1,300 sf on the second floor of the 82,949-sf building at 4004 Belt Line Rd.
The Bradford team worked directly with VeriClaim of Wexford, classic car insurance quote
Pa., extending the lease term by several years and shuffling tenants' offices to gain 1,906 sf of additional contiguous space. Greg Tippin and Kyle Jett of Newmark Grubb Knight Frank represented California-based Microsemi Semiconductor, which added 1,333 sf for a new business unit.
"In certain markets, there has been increased demand for expansion space from existing tenants and out-of-state companies that are moving to Texas in greater numbers than ever before," Hughes says. "In Forum's buildings, we've seen a lot of tenants expanding."
Forum at Beltline also includes a fully occupied 26,572-sf building at 4002 Belt Line Rd. and a 93,587-sf structure at 4006 Belt Line Rd., with its largest block of available space at 17,000 sf.
February 28, 2014