The domino effect of CSG's $39-million, all-cash buyout in May of Oxnard, CA-headquartered DataProse Inc. is a three-year contract, signed July 31, with Brink's Home Security Inc., which has its office at 8880 Esters Blvd. in nearby Irving. The Brink's pact was inked as talks moved to completion for class A office/warehouse space in the 82,650-sf building B at 1122 W. Bethel Rd.
"They really liked the proximity to Dallas/Fort Worth airport, 635, 114 and 121 [all local freeways]," says Blake Kendrick, senior associate for Stream Realty Partners LP of Dallas, who estimates the relocation will boost the CSG division's working space by as much as 25%.
CSG will relocate DataProse to Bethel Business Center from 6012 W. Campus Circle in Irving. Kendrick says the finish-out calls for 30% office. Sept. 15 is penciled for the move-in.
Kendrick tells GlobeSt.com that DataProse had started looking for relocation space in mid-December 2007, with requirements changing as CSG hunkered down for the buy-out. "We were up against probably three or four," he says about the best and final.
Englewood, CO-based CSG is a provider of customer interaction management and billing solutions. DataProse's contract with Brinks covers design, production and mailing, including electronic statements, of more than 670,000 billing statements and letters per month. CSG's search team consisted of James McGraff and Brett Nathan from the Denver office of New York City-based Studley and William Dowd of CresaPartners in Dallas.
Kendrick is teamed with Stream managing director and partner Chris Jackson to round up tenants for Bethel Business Center, owned by Dallas-based Crow Holdings. Kendrick says several deals are being pursued in the 25,000-sf to 80,000-sf range for the two office/warehouses at 1144 W. Bethel Rd. and 1122 W. Bethel Rd. Both are front-load, rear-park, shallow-bay designs with 24-foot clear heights that delivered at the beginning of August.
Bethel Business Center's quoted rate is $5.50 per sf, net. "We're seeing good activity, but then our project is not pure distribution," Kendrick points out.
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