Plano Tower is a 225,445-square-foot office building. Image courtesy of Boxer Property
Boxer Property has signed a 10,705-square-foot lease at Plano Tower, a 225,445-square-foot Class A office building in Plano, Texas. Cyber security and threat protection company Intrusion will join the property’s tenant roster that comprises National1 Energy, United States Department of Justice, Logan Landrum & Greenwood and Yuan Insurance & Financial Services, among others, according to CommercialEdge. Boxer Property’s Regional Leasing Manager Adam Toth negotiated on behalf of the ownership.
Built in 1983 and renovated in 2012, Plano Tower is a 13-story office mid-rise at 101 E. Park Blvd. that features five passenger elevators, 8,595-square-foot floorplates and 902 vehicle parking spots, the same source reveals. Common-area amenities include a conference room, on-site deli and recently renovated lobby. The current ownership picked up the property in 2012, in a portfolio deal, from Parmenter Realty Partners, CommercialEdge shows.
The 10-acre property is close to the Parker Road DART Rail Station and George Bush Turnpike, being 19 miles from downtown Dallas, 25 miles from Irving, Texas, 27 miles from Dallas-Fort Worth International Airport and within 47 miles of Fort Worth, Texas.
Recent office deals in metro Dallas
As of October, the Dallas office market recorded an average listing rate of $27.57, representing a 3.7 percent drop on a year-over-year basis, according to a recent CommercialEdge report. That same month, the metro had a 19.5 percent vacancy rate, higher than the national rate of 17.8 percent.
Noteworthy recent leasing deals in Dallas included Stream Realty Partners’ 52,000-square-foot commitment at The Quad. A major financial services firm will open its first office in the metro at the 12-story, 345,425-square-foot development.
In September, Bank of America signed a 238,000-square-foot lease at Parkside, an upcoming office project totaling 500,000 square feet in Uptown Dallas. The company will relocate to Pacific Elm Properties’ and KDC’s development, that will be rebranded as Bank of America Tower at Parkside.
