Tag: Cushman & Wakefield

New ownership and leasing team leads to a flurry of office leases at 5601 Executive Drive in Las Colinas

Posted on by Mia Goulart

Cushman & Wakefield announced that, representing Novel Office, the firm’s Dallas Agency Leasing team led by Cynthia Cowen and Rodney Helm has closed office-leasing transactions of nearly 50,000 square feet at 5601 Executive Drive in Las Colinas.

Novel acquired the eight-story, 166,592-square-foot building in 2022 and immediately renovated the property, adding a new 50-seat conference center, a new 10-seat boardroom, and a new tenant lounge, all designed to increase productivity and convenience. At the same time, Novel selected Cowen and Helm to lead leasing efforts.

Subsequently, leasing efforts at 5601 Executive Drive have yielded nearly 50,000 square feet of transactions, with new tenants accounting for approximately 45,000 square feet.

New tenants include HireWorks, with 2,894 square feet; International Association of Venue Managers, with 2,658 square feet; Yates Construction, with 6,978 square feet; along with eight more credit tenants.

In addition to recent renovations, 5601 Executive Drive’s features and amenities include: new spec suites, glass-wall options and customizable spaces for full and partial floors, complimentary 2D/3D space planning, best-in-market rates, and a 4/1,000-square-foot parking ratio.

Khaadi signs lease for second U.S. store at Houston Galleria

Posted on by Mia Goulart

Cushman & Wakefield announced that the firm represented global retailer Khaadi in leasing 4,700 square feet at The Houston Galleria in Houston, Texas.

Cushman & Wakefield’s Eric Lestin and Michael Burgower represented Khaadi in the transaction with landlord Simon Properties Group. Lestin represents Khaadi across North America.

Tysons Corner Center in Tysons Corner, Virginia, marks Khaadi’s first U.S. location, The Galleria in Uptown Houston will be Khaadi’s second. Khaadi plans to occupy its new space in Tysons Corner by year end and its Houston location in the first quarter of 2024, with plans to open further stores in U.S. and Canada.

Cushman & Wakefield arranges sale of two Houston-area multifamily communities

Posted on by Mia Goulart

Cushman & Wakefield has arranged the sale of two multifamily communities—Amalfi at Tuscan Lakes and Sorrento at Tuscan Lakes. The communities are in League City, Texas, and together total 532 units.

John Carr, Jennifer Campbell, Ben Fuller, Josh Hoffman, Avery Klatt, Asher Hall, and Grant Raymond of Cushman & Wakefield represented the seller in the transaction. Both multifamily communities were sold by Sachs Companies.

Amalfi Tuscan Lakes and Sorrento Tuscan Lakes have 328 and 204 units, respectively, and are located at 1450 E. League City Pkwy and 1455 Louisiana Ave. Both communities are strategically positioned in the rapidly growing Houston suburb of League City where residents enjoy convenient access to an abundance of employment centers and retail establishments. The communities were built in 2008 but represent a timeless portfolio with attractive architecture, well-groomed landscaping, and a multitude of community amenities such as pools, fitness centers, dog parks and picnic areas.

  • 1450 E. League City Pkwy
  • 1455 Louisiana Ave.

Cushman & Wakefield represents JMB in Houston law firm lease at 1001 Fannin in Houston

Posted on by Mia Goulart

Cushman & Wakefield has arranged a 7,541-square-foot lease with Hogan Thompson Schuelke LLP at 1001 Fannin on behalf of JMB Realty Corporation.

Brad Beasley and Chip Colvill of Cushman & Wakefield represented the landlord in the lease negotiations. Joshua Brown and Kaitlyn Duffie of Newmark represented the tenant.

The 47-story LEED Gold certified tower includes 1.3 million square feet of flexible and efficient office space with eight corner offices per floor, 25,000 square feet of retail and amenity space, a tunnel-connected parking garage and a new fitness center.

HF Sinclair Corporation signs 90,609-square-foot lease for new headquarters at One Victory Park in Dallas

Posted on by Mia Goulart

Cushman & Wakefield, the commercial real estate services firm, announced that HF Sinclair Corporation (HF Sinclair), a Fortune 200 energy company based in Dallas, has signed a new 90,609-square-foot headquarters office lease at One Victory Park.

Owned by Clarion Partners, the Class A office building is located at 2323 Victory Avenue in Dallas. HF Sinclair will occupy three floors in the 20-story building.

Matt Schendle, Cynthia Cowen and Carrie Halbrooks of Cushman & Wakefield represented the landlord in the lease negotiations. Phil Puckett and Harlan Davis of CBRE represented HF Sinclair.

Clarion Partners has made significant upgrades to the Class A office tower over the past few years. A 10,000-square-foot food hall on the first floor named Victory Social is underway at the property and set to deliver in Q1 2024. Operated by Hospitality Alliance, the food hall will include five stations, two bars, two patios, a private dining area and a grab-and-go/order ahead area.

Additional amenities include a newly renovated fitness center; a newly renovated 6,200-square-foot conference center including an executive board room and a commercial catering kitchen; full-service bank; 24-hour security; on-site concierge; and Fiction Coffee.

Centrally located between the Design District, Arts District, Uptown, West End and American Airlines Center, One Victory Park includes a six-story parking deck and convenient highway/tollway access, as well as an abundance of green space surrounding the property. Victory Park is also home to a W Hotel and more than 5,600 residential and condominium units.

New industrial leasing activity remains robust in Q2 2023

Posted on by Mia Goulart

New industrial leasing activity remained robust in Q2 2023, totaling 11.5 million square feet, according to recent statistics from Cushman & Wakefield.

“Demand for industrial real estate in Dallas remains strong despite the slowing economy, as evidenced by the recent big deals by Southwire and Dollar General,” said David Eseke, executive managing director and industrial tenant advisory and leasing leader for the Dallas office. “The manufacturing, aerospace and defense as well as food/beverage industries continue to be some of the most active tenant segments in the market. With the continued population growth in the DFW market, we expect absorption to continue at 2019 levels or above.”

Net absorption totaled 3.5 million square feet for the quarter with notable move-ins including Hayes Company (904,495 square feet), Kenco (489,310 square feet) and LL Flooring (457,363 square feet) (Note: Cushman & Wakefield defines absorption as when the tenant takes occupancy.)

“On the supply side, the under-construction number continues to fall as projects deliver. Most of the new product is of the bulk variety and is focused mostly in South Dallas, East Dallas and Alliance. New starts in these submarkets are unlikely but there are several smaller infill developments in core submarkets that will be kicked off later this year,” Eseke added.

The market currently has 70.0 million square feet of industrial space under construction. Development activity is focused on South Dallas (13.4 million square feet), Alliance (12.5 million square feet) and East Dallas (million square feet). During Q2 2023, 13.3 million square feet of industrial space was delivered.

The overall vacancy rate in DFW totaled 6.8% in Q2. Notable leases include Southwire, (1.07 million square feet), Dollar General (1.0 million square feet) and Kimberly Clark (874,214 square feet).