DALLAS-With future growth in mind, local law firm Bell Nunnally & Martin LLP has signed a long-term extension and expansion for 40,944 square feet at One McKinney Plaza, a class A office building in the Uptown area.
The firm, which employs 50 attorneys, currently occupies the entire 14th floor and part of the 12th in the 15-story building. The new lease adds the 5,255-square-foot balance of the 12th floor.
“This lease is indicative of our firm's growth over the past year and will accommodate future expansion, as needed," says Larry L. Shosid, a partner in the Dallas-based law firm. "To have two full contiguous floors was a good strategic move for us to make. We have added seven attorneys this year and will continue to grow in order to satisfy the needs of our clients."
Negotiations for the extension and expansion began in April, according to Belinda Dabliz, vice president of leasing for Gaedeke Group LLC, the local owner of One McKinney Plaza. “This is one of several expansions for the firm, which has been a tenant in the building since 1996,” she tells GlobeSt.com, adding that the firm started off with 27,126 square feet.
Jeff Ellerman, vice chairman of brokerage services for CB Richard Ellis’s local office, represented Bell Nunnally & Martin in lease negotiations. The firm’s initial site search included all new buildings in Uptown before focusing on its existing building at 3232 McKinney Ave.
Shosid credits the decision to stay, expand and extend to the longtime landlord-tenant relationship, the strategic location of the 263,921-square-foot building and its $5 million renovation, which helped the building achieve LEED certification through the USGBC.
With the renovation, Gaedeke is creating 15,432 square feet of restaurant space at the corner of Hall Street and McKinney Avenue by converting former office space and gaining 2,800 square feet as part of a lobby expansion. Negotiations are under way with several restaurateurs for the entire block of space.
With the Bell Nunnally & Martin deal, occupancy at One McKinney has reached 98%. Year-to-date deal volume at the high rise now totals 87,248 square feet in new leases, renewals and expansions. "Our occupancy is solid for the next few years," Dabliz says.
Bell Nunnally & Martin will begin building out its new space in January 2011 and will move into its roomier office on April 1, 2011.
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