Medieval Times plans to relocate its North Texas headquarters to a new building in Irving, which executives say will help Medieval Times continue its U.S. growth strategy.
The dinner entertainment company nearly doubled its Irving corporate headquarters by signing a lease for 15,377 square feet of office space at Riverside Commons at 5020 Riverside in Irving.
The new lease will add more than 6,000 square feet to its North Texas footprint when Medieval Times relocates from the Las Colinas Corporate Center II along State Highway 161 to Riverside Commons by next January.
By upping the size of its corporate office, Medieval Times will be able to execute on a plan it has had for years to add castles to its realm throughout the United States.
Riverside Commons gives Medieval Times high-end office space with efficient floor plates and amenities for its employees, said Kimarie Ankenbrand, a vice president in JLL’s Dallas office.
She added that the building will give the company an opportunity to grow and develop its corporate team members.
Ankenbrand and Alan Wood of JLL represented Medieval Times in its real estate deal. Cushman & Wakefield’s Trey Smith and Johnny Johnson represented the landlord, Brookfield Property Group.
Medieval Times has appointed design firm HOK as its project architect overseeing interior upgrades to the space.
In the first quarter of 2017, JLL’s research department noted the Irving-Las Colinas submarket had the second highest net absorption for office space in North Texas with 458,814 square feet being absorbed by office tenants.
JLL Managing Director Steve Thelen told the Dallas Business Journal he sees a lot of opportunity for tenants in this part of North Texas based on its big blocks of available office space and relatively affordable lease rates.
“Right now, the rents are lower than in Legacy, which has about a 30 percent premium on rents compared to other surrounding submarkets,” he said.
Presented by the Dallas Business Journal – June 8, 2017