Your Chamber is pleased to announce that Nissan Motor Acceptance Corporation (NMAC) has signed a new long-term lease for 225,049 square feet of office space at 8900 Freeport in Irving, Texas – a property which is owned by Lexington TNI Irving L.P., an affiliate of Lexington Realty Trust (NYSE:LXP). Signed before the end of last year, it was the largest lease signed in Irving in 2010, and it ensures Nissan will be located in Irving for another 13 years.
Built in 2003, 8900 Freeport is a three-story office building containing 268,445 square feet fronting LBJ Freeway. The property is located in DFW Freeport, and provides full-service cafeteria, conference center, 24-hour security, and top of building signage with exposure to LBJ Freeway. There are 43,396 square feet still available for lease in the building.
The Chamber-managed Irving Economic Development Partnership (IEDP) was actively involved in the retention of Nissan meeting early on in the process in regards to a build-to-suit in Irving of a slightly smaller facility for the company. The Chamber’s Economic Development team helped Nissan explore options to ensure maximum efficiency in their use of space. Similar proposals were also sought by the company in other Metroplex cities.
The IEDP team worked with CB Richard Ellis’ representatives and Nissan tenant reps, Ann Huntington and Dennis Barnes, on various scenarios and approaches to retain Nissan in Irving.
“This is a great win for Irving to keep such a well-respected company and well-known corporate brand as Nissan in our community, retaining hundreds of jobs and keeping 225,049 square feet of office space leased,” stated Chamber president and CEO Chris Wallace.
Chris Taylor, CAPSTAR Commercial Real Estate Services principal, represented the landlord, Lexington TNI Irving L.P., an indirect subsidiary of Lexington Realty Trust, in the transaction.
“We could not be more pleased about continuing our relationship with Nissan at 8900 Freeport,” stated Taylor. “The property remains a great fit for their operations in Irving and Nissan’s long-term lease commitment at 8900 Freeport is a testament to the quality of this property and its amenity base, as well as the positive relationship Nissan and Lexington Realty trust share.”
“We are pleased to continue our successful relationship with Nissan and to continue to provide them with a long-term occupancy solution that meets their needs,” adds James Dudley, vice president of the manager of Lexington TNI Irving L.P. “Additionally, we believe this creates an excellent opportunity for prospective tenants to lease office space in this high quality building with great freeway visibility and amenities.”
Ann Huntington, Dennis Barnes and William Callahan of CBRE handled lease negotiations for Nissan.
“We are honored to have partnered with Nissan, one of our national corporate accounts, on re-establishing them within our market,” said Ann Huntington, senior vice president of CB Richard Ellis. “After a diligent review within the DFW area, we were glad to have arranged an ideal situation within their current office building.”