Deals Day: Coworking concepts jockey for space in North Texas

 

 

North Texas’ “astounding business growth” continues to attract coworking spaces jockeying to bring in new tenants.

So far this month, the Dallas Business Journal has noted three new coworking office leases have been announced in the region. Dallas-based Common Desk plans to bring a 26,500-square-foot space to Fourteen5, a new office development off the Dallas North Tollway in Addison.

“Fourteen5 is a visionary project with a robust amenity set, and it provides the perfect space for our exciting entry into Addison,” said Nick Clark, founder and CEO of Common Desk.

Clark added that his company has received multiple requests over the years to open a location in the Addison area.

Venture X, a Florida-based company, announced two new franchised locations this month as well. One will span 22,500 square feet on the fifth floor of the One McKinney Building at Hall Street and McKinney Avenue in Uptown Dallas.

Another, announced a week after the first, will be one of Venture X’s largest in North Texas. At nearly 24,000 square feet, it will occupy the top two floors of Campbell Centre’s north tower. The office complex is located at North Central Expressway and Northwest Highway in Dallas, near NorthPark Center.

Both Common Desk and Venture X are among the coworking companies looking to capitalize on North Texas’ freelance community and growing demand for office space. While Common Desk and Venture X have multiple spaces open or under development in DFW, the companies face competition from other concepts. WeWork, for instance, has six offices, while Executive Workspace, Serendipity Labs and CENTRL, are working to establish footprints in North Texas.

Still, Venture X’s President Tom Weber told the Dallas Business Journal last year that the company has big plans for DFW.

“Venture X decided to launch its flexible workspace in Dallas because of the astounding business growth the market is facing,” he said at the time. “The brand wants to associate itself with the positive advancements in the market.”

Leases

  • Auto parts company 1.800 Radiator of Dallas Fort Worth LLC has leased 33,120 square feet at 2626 Northaven Road in Dallas. Ryan Boozer with Stream Realty Partners represented the landlord, Icon IPC TX Property Owner Pool 6 Dallas LLC, while Corby Hodgkiss of Mercer Company represented the tenant.
  • Champion Distributing is expanding in Farmers Branch, leasing 21,000 square feet at Valwood Distribution Center V, located at 12901-12919 Valley Branch Lane. Eric Crutchfield with Stream Realty represented the landlord, DRA Advisors. Lee & Associates represented the tenant
  • Elite Gymnatics has leased 18,023 square feet at 4141 LBJ Freeway in Farmers Branch. David Levinson and Kathleen Nash with The Retail Connection represented the landlord, while Jimmy Pham of Concept Commercial Realty represented the tenant.
  • Freeport Office Center III has landed a new tenant, with McClatchy Shares Services inking a lease for 14,141 square feet. The complex is located at 8700 Freeport Parkway in Irving. Tim Terrell and Matt Wieser with Stream Realty represented the landlord, Principal Real Estate Investors. CBRE represented the tenant.
  • Technology company Dairy.com extended a 12,863-square-foot lease at Parkwood Office Center, 3801 Parkwood Blvd., Ste. 300, in Frisco. Ryan Evanich and Chase Lopez with Stream Realty represented the landlord, SDI-Parkwood LLC, while JLL represented the tenant.

Author: By   – Digital Editor, Dallas Business Journal
Originally Published on November 26, 2018 at 10:17AM

Article published originally via coworking – Google News https://www.bizjournals.com/dallas/news/2018/11/26/deals-day-coworking-concepts-jockey-for-space-in.html