DALLAS – Younan Properties Inc. has selected a powerbroker team from Bradford Commercial Real Estate Services to lease the 403,120-sf Lakeside Square in North Dallas following a highly competitive race for the business.
Sharon Friedberg and Melanie Hughes, Bradford's senior vice presidents and 2014 top producers, and Bret Cooper, broker associate, have taken over leasing duties for the 18-story tower at 12377 Merit Dr. Lakeside Square is the fourth class A office property that Friedberg and Hughes have leased for the Woodland Hills, Calif.-based investment group.
"Our selection was based on our ability to perform well in the past at Younan's properties. Among the areas we'll be looking at is diversifying the tenant mix," Friedberg says.
The property's accessibility will be key to the marketing strategy. Lakeside Square is midway between LBJ Freeway and Central Expressway in the Park Central submarket. Nearby restaurants and retail add to the property's appeal, particularly its proximity to the Dallas Galleria and 235-tenant NorthPark Mall.
"With the completion of construction on LBJ Freeway, we expect tenants will want to come to this building because it's now a more desirable location and a class A asset with leasing opportunities," Friedberg says.
The plan is to create spec office spaces for smaller tenants while the team courts full-floor tenants for two vacant levels, the eighth and 11th
. "We can go as low as 1,000 sf and up to 45,000 sf," Hughes says. "There's also a nice opportunity for 7,000 sf on the first level."
The leasing team believes Lakeside Square's improved accessibility is a strong selling point. "For companies with employee bases in Uptown, Richardson, McKinney and Allen, it's centrally located," Hughes adds.
Historically, Lakeside Square is preferred by large tenants who stay for the long term. Currently, there are 11 tenants, four of which occupy entire floors.
"There are still large users out there in Dallas. And, there is still a good deal of demand for quality spaces," Friedberg says. "We're planning to bring new blood to this building."
Lakeside Square's amenities include an 1,800-sf conference center, 2,500-sf fitness center with locker rooms, business center and Murphy's Deli. Younan's in-house team manages the property, which features a six-level garage and 24/7 manned security desk.
Lakeside Square is the second class A office assignment that Bradford's won in two weeks. Aque Investment Group has just turned over the 149,416-sf Addison Tower at 16415 Addison Rd., also North Dallas, to the Bradford team of Ed Pachecano, senior vice president and managing partner, Richmond Collinsworth, vice president, and Clint Manning, broker associate.
September 18, 2015