Demand for Office in the West LBJ Freeway Submarket Continues to Increase
WASHINGTON, D.C. – June 19, 2015 – (RealEstateRama) — Stream Realty Partners, a national real estate services, development and investment firm, has secured a 13,386 square foot lease for AIR Engineering and Testing, Inc., at Westwood Business Park located at 1801 Royal Lane in Farmers Branch, Texas. AIR Engineering and Testing, Inc., is a provider of testing, adjusting and balancing, commissioning services, as well as energy modeling for mechanical building systems.
Todd Noonan, vice president of Stream represented the tenant, AIR Engineering and Testing, Inc., while Chris Andler with Property Advisers Realty, Inc., represented the landlord in the transaction.
“Tenants are capitalizing on great opportunities available along LBJ Freeway,” Noonan said, noting the importance of dense parking ratios and convenient access to restaurants in the surrounding areas of Farmers Branch. “AIR Engineering and Testing, Inc., previously occupied the building as a subtenant and renewed with a long-term direct lease.”
Westwood Business Park is a 12-building complex located within close proximity to the major North Dallas thoroughfares of North Stemmons Freeway (I-35 E), and LBJ Freeway (I-635), offering convenient access to DFW International Airport and Love Field. PAR Capital Partners, Inc. purchased the property in August of 2014, and a complete renovation of the property is underway.
About Stream Realty Partners
Stream Realty Partners, L.P. is a full-service real estate investment, development and services company. Since its formation in 1996, Stream Realty has grown from its two original partners to a staff of over 550 real estate professionals nationwide with office locations in Atlanta, Austin, Charlotte, Dallas, Denver, Ft. Worth, Houston, Southern California, San Antonio and Washington, D.C. Stream Realty leases and/or manages more than 120 million square feet of commercial buildings across the nation; completes over $1.6 billion in real estate transactions annually; and is considered one of the most active investors and developers in the Southwest.