January 24, 2018
DALLAS – Transwestern today announces it has brokered three leases on behalf of Lexington Lion Farmers Branch LP, an affiliate of Lexington Realty Trust, which brings Two Colinas Crossing to 98 percent occupancy. Chris Delzell of Lexington and Transwestern Principals Duane Henley and Nathan Durham represented building ownership in the transactions:
· IBM leased 66,018 square feet
· Home Point Financial leased 64,788 square feet
· An undisclosed financial services company leased 33,028 square feet
“Lexington has displayed a considerable level of commitment to improving the property,” said Durham. “Along with the upgrades and new amenities, the entire third floor was white-boxed to enhance marketing of the ‘new’ Two Colinas Crossing.”
Two Colinas Crossing, located at 11511 Luna Road in Farmers Branch, had been a single-tenant
property since 2004. When the tenant vacated in 2016, Lexington strategized with Transwestern on launching a $1 million capital improvement campaign as part of remarketing the building as a multitenant property. Entos Design provided design services for upgrades to the building lobby, tenant café and lounge, as well as adding a fitness center and conference center.
“Two Colinas Crossing underwent a major transformation that accelerated leasing efforts to bring the property to near full occupancy,” said Delzell. “It was a team effort, with Entos and Transwestern working with Lexington to achieve this high level of success.”
Tenant improvements are currently being completed for early 2018 move-in.
Two Colinas Crossing, a 181,072-square-foot, Class A property built in 2000, features frontage on a 110-acre lake with a 10-mile trail system. The property is located within Dallas’ Office Center/West LBJ submarket and provides easy access to Highway 35, Interstate 635/LBJ Freeway and President George Bush Turnpike. Nearby amenities include hotels, hospital, retail and entertainment options, with Doubletree and Omni hotels within walking distance. Dallas-Fort Worth International Airport is within a 5-minute drive and the Dallas Central Business District within 15 minutes.
Transwestern is a privately held real estate firm of collaborative entrepreneurs whodeliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the North Texas region, follow @TranswesternDLS and @TranswesternFTW.