Master Halco Signs Full Floor Deal at Graystone Centre in Dallas;
Company to Relocate Irving HQ Staff to LBJ High Rise
Dallas, March 4, 2015 --- Younan Properties, Inc., a privately-held, national real estate investment and management company, which owns office buildings in six U.S. office markets announced that Master Halco signed a new full floor lease for 20,978 sf at Graystone Centre in Dallas.
Blake Shipley of JLL, represented YPI in the transaction. The tenant was jointly represented Brian Netzky of Interstate Tenant Advisors with assistance from Dan Jardine and Nick Lee of NAI.
Commenting on the new lease, Shipley said, “We’re thrilled to have Master Halco join us at Graystone. We see its decision as an indicator of great positive momentum for the building and the LBJ submarket. We are pleased with the building renovations and it's clear that the market has noticed these improvements because there is more new leasing activity than ever before.”
According to Scott Suh, Senior Vice President and CFO of Master Halco, " After several months looking for our new corporate office, we finally found our new home at Graystone Centre on 3010 LBJ Freeway. Not only does this location give our employees convenient access from all points in the Dallas Metroplex, the building has great amenities, such as a fitness center, a deli, a shared conference room and covered parking, as well as a hotel nearby for our out-of-town guests and employees. So, we’re very excited to bring with us more than 80 of our corporate office staff from Accounting & Credit to HR, IT and Purchasing."
"This is a major lease with a major tenant and we are extremely excited. We will provide Master Halco with excellent space solutions to accommodate all of its needs now and for future expansion when needed. We have completed a number of improvements, including $5.0 million of capital expenditures, to position Graystone Centre as the only Class 'A' high rise in the LBJ submarket," said Zaya Younan, Chairman and CEO.
Graystone Centre is a 15-story Class A office building in the LBJ Freeway submarket. The gleaming 301,378 square foot property offers excellent visibility from the LBJ Freeway, is convenient and accessible to I-35 and the Dallas North Tollway, and is just seven miles east of DFW International Airport. Typical floorplates measure approximately 21,000 rsf. Amenities include a fitness center, 14-person conference room, on-site deli, on-site property management and security, 24/7 key card access, and fully remodeled restrooms, common area corridors and elevator lobbies. There is a covered parking garage with a 3:1,000 parking ratio as well as surface parking for visitors. The property currently is undergoing a multimillion dollar exterior renovation, which will include new entrances, signage, hardscape, lighting and landscape. The estimated project completion date is May of 2015.
About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles, Phoenix and Colorado Springs. The company is recognized for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants. Younan's fully-integrated real estate investment company offers in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. For more information, visit www.younanproperties.com.
About Master Halco
Master Halco is North America's largest manufacturer and distributor of perimeter security and fencing. The company operates manufacturing plants, regional distribution centers, corporate, and branch offices from over 60 sites strategically located across the U.S. and Canada. Master Halco serves professional fencing contractors, security integrators, and quality building material retailers throughout North America. With a nationwide network of more than 200 field sales staff and customer service representatives, the company offers its customers the highest standard of service and support in the industry. For more information, visit www.masterhalco.com.