Three New Leases Reflect Forum At Belt Line’s Market Strength

Bradford - Sharon FriedbergADDISON, Texas - Trying to keep pace with its growth rate, Nerium International LLC has expanded for the second time in less than 2.5 years and is considering even more room in the 203,108-sf Forum at Belt Line, which is rapidly becoming a niche location for fast-growing businesses. In its latest move, the locally based entrepreneurial skin-care company has signed a 7,881-sf renewal and expansion, picking up 2,500 sf of contiguous space in Forum at Belt Line Building 2 at 4004 Belt Line Rd. in Addison. Sharon Friedberg and Melanie Hughes, senior vice presidents of Bradford Commercial Real Estate Services, also have completed leases with Houston-based DPI Energy LLC for 4,146 sf and startup LLC for 1,840 sf, both choosing the 82,949-sf Building 2 for their new offices. "These companies are the tenants we really expect to be the future of that building. They come in small and keep expanding," says Friedberg, who along with her partner are the long-time brokers for the three-building complex, owned by ARI Forum LLC. Robbie Baty of Cushman & Wakefield of Texas Inc. represented Nerium in its new lease. DPI Energy, relocating from 2997 LBJ Freeway in Dallas, was represented by Dan Egger of ProVista Tenant Advisors while had Kent Smith of NAI Robert Lynn negotiating its terms. Bradford - Melanie HughesFriedberg and Hughes believe the niche role that Forum at Belt Line is playing in the marketplace will be instrumental in backfilling a 46,000-sf vacancy that they know will occur before July 2013. Longtime tenant National Default Exchange LP has been seeking about 100,000 sf in Dallas, a space requirement that Forum at Belt Line is unable to fulfill. "We're not marketing this space as yet," Hughes says, "but we're definitely trying to get the word out that it will be available." Currently, Forum at Belt Line's largest contiguous block is 15,022 sf in the 93,616-sf Building 3 at 4006 Belt Line Rd. Overall, the Bradford team has just 56,008 sf to fill in the trio of two-story, class B office buildings, which includes a 25,985-sf structure at 4002 Belt Line Rd.
June 18, 2012

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