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Due to many large blocks of available space in the Richardson/Plano submarket, 1011 Galatyn Parkway had been vacant for three years. The owner spent significant time, effort and capital in performing an interior redevelopment of the property, and a year marketing the property themselves with no successful results. A minimum tenant size of 125,000 square feet was required – and that was a big number in this suburban market.
JLL was engaged to market the property, and immediately utilized media and technology tools to increase exposure of the property and showcase the value of all the owner’s improvements. The results? A lease for the entire building at rental rates 15% higher than the owner’s target. Even better? All of this occurred within four and a half months.
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