Phil Sandlin, vice president for Bradford/Corfac International in Fort Worth, says Omaha-based Tenaska did look around before sitting down to rework the pact for its regional office at 1701 E. Lamar Blvd. in North Arlington. "They got themselves comfortable with the market and what's available in that market," he says, adding "there aren't very many larges spaces in North Arlington."

Sandlin tells GlobeSt.com that the eight-year tenant's 20,890-sf lease had three years to go before expiration so the deal was packaged as a co-terminus expansion with a five-year term and extension. "The ability to extend and on-site security was a plus for them," he says. Talks began about six months ago.

Tenaska's office takes up the entire first floor of the building's east wing and now part of the west wing's main level. Prior to the expansion, the independent power producer was tied in size with Texas Health Resources. Gary Walker, president of SCM Real Estate Services in Arlington, and his broker, Renee Efimoff represented the tenant.

The expansion nudges the 80,104-sf, class A suburban office building to 72% occupancy for Meridian, ID-based DBSI Housing Inc. The quoted rate is $19 per sf, full service.

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
NOT FOR REPRINT

© 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.