DALLAS – A locally based investment group has selected Bradford Commercial Real Estate Services to lease a 245,969-sf office portfolio in Greater Dallas, adopting a new strategy to increase occupancy at four properties situated in three submarkets.
The owner has shifted to one firm after years of using separate brokerage shops for the four class B office properties to end a two-month competition for the leasing assignment. Securing the win for Dallas-based Bradford was Justin Owen, vice president and lead broker for the portfolio’s new leasing team.
“I have past leasing experience with the four properties. I walked the owner through Bradford’s leasing platform and he gave us the entire portfolio,” says Owen, who is partnering with Jared Laake, market director, and Elizabeth Robertson, director of advisory services, on the assignment.
The new assignment is 8600 Freeport Parkway, Irving; a three-building complex at 4320, 4322 and 4324 N. Belt Line Rd., also in Irving; Central Square, 10830 North Central Expressway, Dallas; and Treepoint Plaza, 16901 N. Dallas Parkway, Addison. The portfolio is 62% leased.
“There is a diverse mix of vacancies that can accommodate tenants of all sizes in three strong submarkets,” Owen says.
The larger vacancies include a 21,000-sf, two-story office project at 4320 Freeport Parkway in Colinas Business Park and the entire first floor (12,955 sf) at 8600 Freeport Parkway, a four-story building just three miles from Dallas/Fort Worth International Airport and less than six miles north of Las Colinas Urban Center.
The portfolio’s openings run the gamut from open-space floor plans to heavy office. First-floor medium-size suites also are available in the Addison project, part of the Lower Tollway submarket, and Central Square, an easily accessible four-story office building with an unobstructed view of North Central Expressway.
“Activity on the spaces has been robust since we launched our leasing campaign just a few weeks ago,” Owen says. “The attraction is local portfolio ownership with flexible terms and value pricing on solid class B office space in good locations.”