Dealmakers on both sides of the fence are barred from discussing the new lease due to a confidentiality clause embedded in the long-term pact. It has been learned AIG will get keys Jan. 1, 2009 to two full floors and part of a third in an 11-story, 227,096-sf building at 4100 Alpha Rd. AIG will be the largest tenant in the 850,000-sf, 10-building complex on 52 acres at the crossroads of Alpha and Midway roads.
Buddy Tompkins, senior director, and Seth Thatcher, associate, with GVA Cawley Realty Services of Dallas represent the Centre's owner, Dallas-based Dalcan. Rick Hughes, executive director for Cushman & Wakefield of Texas Inc., represents AIG.
[IMGCAP(2)]AIG's deal bumps the one building's occupancy to 70% while pushing the entire class B office project to 60%. The Centre's quoted rate is $16 per sf plus electric.
In mid-January, AIG signed a 125,000-sf lease with an 11-year term for Plaza of the Americas' south tower at 600 Pearl St. The move-in also is set for January.
As Dallas officials praised AIG's return from the suburbs, it was no secret that the company's initial search was 200,000 sf. At the time of the signing, GlobeSt.com had been told that the search wasn't yet over. AIG will be leaving 190,000 sf at 3144 Walnut Hill Lane, also in North Dallas. Its lease expires in February.
The Centre's location sharply contrasts with the Plaza of the Americas, parked at the heart of the city's business activity. The suburban office campus provides a lakefront setting and several DART stops in front of its buildings. Other park perks include an on-site health club and Luby's cafeteria. Even more appealing is it's at the epicenter of a redevelopment district promising to add large numbers of condos and more retail to the North Dallas streets.
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