DynCorp's long-term lease, at least five years in length, fills the second floor and part of the first of the two-story project at 13601 North Freeway, according to Steve Aldrich, vice president of Hillwood Properties. He tells GlobeSt.com that the signed deal has jump-started design work on another office building, a 150,000-sf class A that could break ground in the fourth quarter in the AllianceTexas office pocket.
DynCorp's signing comes roughly three months after Farmington Hills, MI-based Daimler Financial Services Americas swapped its 75,344-sf prelease for a 204,000-sf build-to-suit. Heritage Commons II's space is being marketed at $21 per sf plus electric.
Aldrich says DynCorp has been eyeing a consolidation of its Dallas/Fort Worth offices since 2006 when it filled the 119,001-sf Heritage Commons III at 13500 Heritage Pkwy. with its field technical services business unit. Last year, DynCorp took 10,316 sf of overflow space in Heritage Commons I at 13600 Heritage Pkwy. Aldrich says DynCorp will move into the new building in July, a feat timed to coincide with lease expirations at Heritage Commons I and two offices in the Freeport/Las Colinas area near Dallas/Fort Worth International Airport.
Aldrich confides that the ongoing talks with DynCorp included a build-to-suit as an expansion option. The Daimler decision "really opened up an opportunity that had no time sensitivities on it and it was right across the street," he says. "It was the perfect situation."
Ted St. Clair Jr. and Richard D. Minker of the Richard D. Minker Co. in Fort Worth represented the Falls Church, VA-based tenant. When the dust settles on the location consolidation, DynCorp will be bringing another 350 workers into AllianceTexas, where it now has 650 employees.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
