Texas Renal Dialysis Ventures took 11,367 sf for a new clinic while doctors of the North Texas Kidney Diseases Association got the 4,000-sf balance of the 10-year lease for the 51,353-sf building 4 at 6331 Grapevine Hwy., according to Chris Wright, senior associate with Stream Realty Partners LP in Dallas. Move-in is penciled for Oct. 1, he adds.
One-year tenant Winfree Academy Charter Schools, a Dallas-based operation with six campuses in the metroplex, has added 4,751 sf to its 17,170-sf lease in the 27,581-sf building 5 at 6311 Grapevine Hwy. Wright says the expansion runs co-terminus to the existing lease, which has at least five years left on the term. It too will get keys Oct. 1 to the extra room.
Wright tells GlobeSt.com that the former North Richland Hills Mall's buildings at 6311-61 Grapevine Hwy., built in 1962, have had about $1 million sunk into their conversion in the past year by Fenton LLC of St. Louis. "We are slowly backfilling it with call center uses," says Wright, who teams with Stream associate Franklin Swann on the assignment. "We have one big vacancy and we're really out fishing for one tenant to take that one space."
[IMGCAP(2)]The hard push is aimed at an 11,924-sf theater at 6363 Grapevine Hwy. "We think it will be call center or quasi-retail use," Wright adds, citing the need for a deli or sandwich to fill in around the new tenant base and add an on-site amenity. The Hills' other large opening is 43,958 sf in the 88,625-sf building 2 at 6341 Grapevine Hwy. The quoted rate is $10 per sf, triple net.
The Stream team assumed the assignment in spring 2007 when occupancy was 55.42%. Wright says the retooling into class B office space has delivered 49,750 sf of positive absorption to the project. "It shows the turnaround of the project," he emphasizes. "And we have a couple big vacancies that will hopefully fill up soon."
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.
