TEXAS CAPITAL BANK SIGNS BIG RICHARDSON OFFICE LEASE
Lakeside Tower in Richardson is now almost fully leased. (DMN files)
Texas Capital Bank has expanded its lease to 170,000 square feet of office space in the Lakeside Tower in Richardson’s Telecom Corridor.
The lease is one of the largest signed this year in the Richardson market.
The independent bank is adding 50,000 square feet of office space to its operations in the building at 2350 Lakeside Boulevard. TriGate Capital owns the office tower.
TriGate bought the building in 2009 and it’s now 98 percent leased.
Tommy Nelson and Jeff Schweitzer with Stream Realty Partners brokered the deal with Terry Quinn and Eddie Tillman with Cresa Dallas.
The Texas Capital Bank lease is just the latest in a string of major office transactions in the North Central Expressway corridor in Richardson.
North Carolina insurer AmWINS Group just rented 40,000 square feet in the nearby Tower 2600 building, taking that project to almost full occupancy.
And in January State Farm Insurance rented more than 300,000 square feet of additional space in the Galatyn Park complex.
When TriGate bought the 200,000-square-foot Lakeside Tower out of foreclosure, the office building was only 40 percent leased. Texas Capital Bank had its operations center in the project, which has steadily increased in size.
“They have been a phenomenal tenant,” said TriGate’s Jeffrey Yarckin.
“Texas Capital Bank has made the decision to expand its operations in Richardson,” Terry Quinn of Cresa Dallas said Tuesday in a statement. “While several factors contributed to the decision, the significant factors were Richardson’s proximity to the employee base and attractive rental rates relative to the Uptown and far north Dallas.”
The building was constructed in 1985 and has been significantly remodeled.
Source: The Dallas Morning News