10 Tenants Stamp Pacts Totaling 63,858 SF

DALLAS-The Dallas-Ft. Worth region definitely is on the rebound if leasing activity is any indicator that the sluggish days are over. Area brokers are reporting 10 freshly closed deals for a 63,858-sf total and more are on the way, a good sign that the Q1 negative absorption is on the decline.

The Beverly Hills, CA-based ICON Health and Fitness Inc. has moved into 13,440 sf of office-warehouse space at 10990 Petal St. in Dallas. The tenant, which just six months ago hit the 500,000 sf mark in Mesquite, is using the location for a repair and wholesale site, Tom Smolik, senior vice president of TIG Real Estate Services Inc. in Dallas, tells GlobeSt.com. He has represented the building owner, Greater Dallas Realty Capital LP, in the negotiations for the five-year lease. Shawn Hall of Coldwell Banker Commercial has acted on ICON’s behalf. ICON has relocated its repair and wholesale site from Ft. Worth.

ICON has selected part of a 144,000-sf structure, built in the early 1980s, because of its visibility from the LBJ Freeway, says Smolik. The Gateway Business Park structure is now 93% occupied.