DALLAS With Forum at Beltline flexibly supporting rapid-growth companies, Nerium International LLC has signed a 75,9125-sf lease that more than doubles its headquarters size and gets the team under one roof in the three-building project in North Dallas.
In back-to-back expansions, totaling 49,828 sf, the manufacturer of cutting-edge, age-defying products like the best e cig
has become the largest tenant in the 203,108-sf office complex in Addison. The company is planning to move this month to Forum III at 4006 Belt Line Rd. from Forum II at 4004 Belt Line Rd.
"They really needed to reconfigure their lease and make it a relocation, expansion and extension," says Melanie Hughes, senior vice president of Bradford Commercial Real Estate Services. Nerium's new deal includes expansion options and its name on the 93,587-sf building.
"This is a building where tenants come to grow. It has happened multiple times," says Sharon Friedberg, also a senior vice president at the Dallas-based brokerage firm. “Simply put, the building has good energy.”
Nerium launched in 2011 in 5,432 sf in Forum at Beltline, expanding into available suites in Forum II and even a few in Forum III. In the ensuing years, the company quickly grew into a recognizable name in the relationship marketing industry.
In this next chapter of its growth, Nerium's headquarters, sales and marketing teams will occupy 44,420 sf of Forum III's second floor and 29,655 sf of the first floor. Robbie Baty and Bill McClung of Cushman & Wakefield of Texas Inc. represented the tenant.
"Nerium absolutely looked at the market, but they like this property," Friedberg says. "The secret to Forum at Beltline's success is it's priced to lease. It has a good owner and management plus it's a quiet campus-like setting in the heart of Addison."
California-based ARI Forum LLC provides on-site management and engineering services at the property for its tenants. Two on-site restaurants and day maid services also add to Forum at Beltline's appeal.
The Bradford office leasing team already has prospects circling the 21,000 sf that Nerium will be vacating in the 82,949-sf Forum II, where leasing opportunities include a 14,815-sf contiguous block of available space. The project's other two buildings are 100% leased.
September 2, 2014