10-Year HQ Deal Lands in Corporate Ridge

FLOWER MOUND, TX-FUNimation Entertainment has sealed a 48,500-sf, full-building lease in the recently delivered Corporate Ridge. The 10-year, stair-stepped lease, more than doubling the headquarters size, goes live Oct. 1.

Champion Partners’ Building One was up against three other buildings, all situated close to the Dallas/Fort Worth International Airport. Barney Sinclair, a Champion partner, tells GlobeSt.com that the decisionmaker was the rate attached to the development’s smallest building, a 75% office-25% warehouse flex design for a single user or multi-tenant. “The economics of coming to Corporate Ridge were very attractive when compared to traditional office space,” he says. “We were ready to multi-tenant if we needed to, but it’s a good size for a single user.” Corporate Ridge at 1200 Lakeside Pkwy. is a mix of several product types with a varied rate structuring based on finish-out so quotes aren’t available.

Sinclair also credits the win, in part, to in-place development incentives from the town of Flower Mound before Champion broke ground on the four-building project in Lakeside Business District. The package provides a five-year, 70% tax abatement from the city and 25% perk from Denton County. “The town of Flower Mound was really proactive. The economic development director played a big part in helping us to land this lease,” Sinclair stresses. The FUNimation Entertainment win bumps occupancy to 36% in the 477,500-sf Corporate Ridge, becoming the fifth lease for the park.