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Marketing Plan In Place for New Value-Office

GRAPEVINE, TX-Twin 26,700-sf spec buildings are rapidly rising in the city as Stream Realty preps to plant its sign to kick off the campaign. Phase two will be retail.

By Connie Gore | Updated on March 14, 2008

[IMGCAP(1)]GRAPEVINE, TX-Finding the sweet spot in a two-mile office pocket radius, a private development group will soon be courting the market with a pair of two-story value-office buildings, totaling 53,400 sf. The 5.7-acre project, with retail planned for some of its land, will start to deliver in May.

A full-blown marketing blitz gets under way in two weeks for the developer of record, NN Enchanted LLC, a group of private investors with a development background from nearby Southlake. Genesis Office Complex, packaged as a merchant build spec, is the group’s first move on the product type in Dallas/Fort Worth. The key to the project at 1900 and 1940 Enchanted Way is its location–across the highway from Grapevine Mills Mall, Bass Pro Shop and close to three major arteries leading to Dallas/Fort Worth International Airport, the Gaylord Texan and Great Wolf Lodge.

The leasing team’s research has shown only three other office options with 20,000 sf or larger openings within a two-mile radius of Genesis Office Park, positioned close to Texas 121 and 26 and Interstate 635. “You don’t have many buildings that are 25,000 sf and that are contiguous. It’s hard to fine larger blocks of space in Grapevine proper,” says Stream Realty Partners LP’s vice president Russ Webb, who’s teamed with Kyle Jacobs, also a vice president, to lease or sell the office space.

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