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UK-Based Vertex Takes 7-Year Lease for US HQ

RICHARDSON, TX-Vertex Outsourcing leases 37,346 sf in Richardson Commons for a soon-to-be-bought ADS division. It's the first lease since the office complex's redo.

By Connie Gore | Updated on September 12, 2008

RICHARDSON, TX-In a quick-moving deal, Vertex Outsourcing has signed a seven-year lease to plant its US headquarters at Richardson Commons, jump-starting the re-tenanting of a retooled 200,566-sf office complex. The deal flew into motion about five weeks ago when Alliance Data Systems Corp. agreed to sell its utility services division to the UK-based Vertex.

Susan Arledge, president of Arledge Partners Real Estate Group in Dallas, says the US headquarters search was confined to a five-mile radius of an employees’ zip code analysis, with the winner’s location at 250 E. Arapaho Rd. falling close to the majority of the 220-member workforce’s residences. She says the division’s sale also included a commitment to vacate as soon as possible from ADS’ headquarters campus at 17655 Waterview Pkwy. in Dallas. The move is penciled for October, with sale set to officially close sometime this quarter.

“The driver was they could quickly retrofit the space, it had the parking and had the image they were looking for,” Arledge tells GlobeSt.com. Vertex took 37,346 sf or about half of the first floor in Richardson Commons’ 155,984-sf, two-story building with 779 parking spaces. And, there is a right of first refusal for more of its class A-minus office, says Arledge, who teamed with colleague Jeff Pappas to lock down the deal.

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