3201 Dallas Pkwy. consists of 12 stories within 300,000 square feet of office space.
FRISCO, TX—Another HALL Park building is fully leased. The tenant, Redwood Software, has leased 8,000 square feet at 3201 Dallas Pkwy., the newest office building at HALL Park. The firm will begin occupying its space on the building's eighth floor in January 2020.
"Our corporate growth in North America continues to be remarkable. We're pleased to be joining the many successful global businesses that now call Frisco home," says Mehdi Rezaie, chief operating officer, Americas and APJ, Redwood Software Inc. "The new office location will be a center of innovation, where we can work together with our growing list of customers and partners to build a better future based in intelligent automation."
3201 Dallas Pkwy. consists of 12 stories within 300,000 square feet of office space. The two-story lobby includes a signature staircase with works of art and sculptures from the Hall Collection. The building also has a full-service fitness studio and conference center on the ground floor.
Outdoor spaces center on the new event lawn with LED water feature, outdoor kitchen and dining areas, a bean bag toss court and a putting green. Flexible 26,000-square-foot floorplates are available throughout the building, which is LEED Silver-certified.
"Redwood Software perfectly complements our innovative growing group of companies at HALL Park," said Kim Butler, HALL Group's director of leasing. "As we continue to expand and diversify the park, we are excited to welcome companies like Redwood that offer unique, cutting-edge services."
Redwood did not utilize a broker for the transaction, and HALL Group's Butler, Brad Gibson and Cynthia Cowen represented HALL Park. Gibson is the firm's leasing manager.
"Reaching 100% leased is a big milestone for any project and adding Redwood Software's North American headquarters to this building's premiere lineup of companies will be an ideal fit," Gibson tells GlobeSt.com. "Frisco's focus on tech and innovation is widely reflected at HALL Park, and we look forward to watching Redwood's growing business thrive in this setting."
DFW maintained robust job growth by adding 119,000 non-farm jobs since April 2018, a 3.3% annualized gain, according to the Bureau of Labor Statistics.
Moreover, the market absorbed 744,109 square feet in second quarter, marking the fifth consecutive quarter of positive absorption and bringing total absorption for the year to 1.5 million square feet, according to a second quarter office report by CBRE. Vacancy remained flat during the quarter despite the positive absorption, due to 711,220 square feet of competitive inventory introduced to the DFW market and the sheer amount of existing office stock in the metro.
Currently, 20 leased projects totaling 4.3 million square feet are in the construction pipeline with a pre-leased rate of 46%, says CBRE.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
