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DALLAS, Jan. 3, 2013 — Jones Lang LaSalle today announced the firm’s Landlord Leasing Group has achieved 100 percent occupancy at two of its assets in the Richardson and Plano submarkets: Parkwood Place located at 5601 Democracy in Plano and 1011 Galatyn Parkway in Richardson.
“Our DFW leasing team is entrenched in the market and focused on uncovering new opportunities for our owners,” said Jones Lang LaSalle Managing Director Jeff Eckert. “Our leasing agents hustle and are creative from start to finish on a transaction; it sets the tone for the tenant experience.”
Parkwood Place is a 98,750-square-foot, Class-A office building, located in proximity to the prestigious Legacy area. Jones Lang LaSalle was awarded the assignment by KBS Realty Advisors in 2011. Since then Eckert and Vice President Blake Shipley have signed major leases with Optimal Blue, Tegrity Homes, and KDM Marketing Services.
“As they do with other buildings in their portfolio, KBS Realty Advisors completed major common area renovations during 2012 that greatly elevated Parkwood Place’s position in the market,” said Eckert.
Most recently, Executive Vice President Daryl Mullin and Senior Vice President Sandie Matejek won the leasing assignment at 1011 Galatyn Parkway, located east of North Central Expressway. The ownership, Champion Partners, invested over $2 million at the property to create a conference area and fitness center, renovate several floors in the building and transform the lobby.
“Historically the Richardson area was home to Telcom companies, but today users and providers of technology benefit from the infrastructure in this submarket. The significant capital improvements opened the door for State Farm to take over the entire 291,469-square-foot building,” said Mullin.
According to The Dallas Morning News, the State Farm lease was one of the largest transactions in North Texas this year.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE: JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47 billion of assets under management. For further information, please visit www.joneslanglasalle.com.
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