The back-to-back closings for 6363 Forest Park Rd. included a 20,671-sf renewal by InterCept Inc., which signed a six-year lease in a reworking that allowed Texas Independent Bank to move from a 5,067-sf sublease to a short-term direct lease, Kathy Permenter with Grubb & Ellis Co.'s Dallas office explains to GlobeSt.com. Randy Garrett, principal with the Fort Worth-based NAI Stoneleigh Huff Brous McDowell's Dallas office, steered talks for InterCept while NAI's Robert Deptula handled negotiations for Texas Independent Bank.
The University of Texas' Southwest Medical Center inked a five-year lease for 14,079 sf, predominately on the eighth floor, to take its total to 156,000 sf in the 14-floor, class B office building in the Stemmons Corridor. Finish-out is underway on the extra space.Longtime tenant Doolin Trust also held tight to a 1,518-sf office for the long term. The trust used in-house representation to ink the deal with building owner, Crown Exchange Partners LP of Garden City, NY.
Despite the gain, the asset's broker says "I still have work to do." American General Tower, which has four lower floors of contiguous space sitting empty, is on the market for $13 per sf to $13.50 per sf.
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