February 7, 2022 10:00 AM
Newmark announces the 21,000-square-foot office lease to Irvine, California-based patient experience marketing platform Review Wave at 300 East Davis Street, a Class A creative office building in McKinney, Texas. Newmark Executive Managing Director Nathan Durham represented the landlord Dan Doyon of Workplace Hospitality Management in the transaction and Robert Creamer of 7 Streams Commercial Group represented the tenant.
“This lease is a great example of the continuing trend of company relocations to the Dallas area,” said Durham. “With strong incentives for all parties involved, we were able to complete this transaction in a very rapid one-month timeframe.”
Built in 2018, 300 East Davis Street is a 55,364-square-foot, three-story creative office building featuring abundant conferencing areas and modern amenities including a workout facility and full kitchens on each floor. With the 21,000-square-foot lease transaction, the building is now fully leased, with the availability of shared office space via coworking operator Common Desk.
According to Newmark Research, office demand in the Dallas area is expected to strengthen in 2022 due to job growth and company relocations and expansions. The region has seen an ongoing trend of companies from the Northeast and West Coast relocating a portion of their staff to the Dallas/Fort Worth metro area. Companies continue to be attracted to the area due to its relatively lower cost of living, strong school districts, and labor and talent availability.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.5 billion for the trailing twelve months ending September 30, 2021. Newmark’s company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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