COPPELL, TX-Vista Point South has added two new tenants and renewed an existing tenant for a total of 50,870 square feet. The deals push the office/flex project’s occupancy to nearly 87%.
“We’ve not had to discount our space considerably to get deals done, which speaks the flexibility of the project, along with the visibility it offers,” says Justin Ridnour, vice president of development for Jackson-Shaw.
Located along State Highway 121 in Coppell, Vista Point South includes six flex-office buildings totaling 207,953 square feet. The property was developed by Jackson-Shaw and continues to be owned by the Dallas-based firm. Chris Jackson, Tim Terrell and Blake Kendrick of Stream Realty represented Jackson-Shaw on each of these leases.
The two new tenants are Parago Inc., a provider of rewards programs and customer incentive solutions to Fortune 500 companies, and Paragon Global Resources, a full-service relocation management company that provides domestic and international services.
Parago signed a one-year lease for 15,752 square feet at 615 State Highway 121. The location serves as the operational site for Parago’s new company, Beget.com, a website that offers users special deals from retail partners located in their own neighborhoods. Parago was represented by Steve Thelen and Brooke Armstrong of Jones Lang LaSalle
Ridnour tells GlobeSt.com that Parago took second generation space. “It was move-in ready,” he says. “That’s one of the reasons they liked the space – it didn’t require a lot of construction.”
Paragon Global Resources signed a seven-year lease for 22,313 square feet at 633 State Highway 121. The company will move from its current offices in nearby Irving, as well as consolidate several out-of-state offices.
Ridnour says Paragon’s new space represents a 15 to 20% expansion. The company, which will relocate a number of employees from Illinois and California, was represented by Brant Landry and Brett Owens of Transwestern.
In addition to its new tenants, Jackson-Shaw renewed its lease with Lexus. Under the terms of the new lease, the car maker’s 12,765-square-foot training center will remain at 611 State Highway 121 for another five years. The center includes office space, conference/training rooms and garage bays where technicians are trained to service Lexus vehicles.
Lexus has been a tenant in Vista Point South for five years. “Lexus looked at existing facilities around the country to decide which ones to keep and which ones to close,” Ridnour notes. “Because of growth in the market and the investment they’ve made in the space, they decided to stay here.”
Lexus was represented by Nathan Lawrence and Ryan Keiser of CBRE.
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