Strasburger needed to accommodate 40,000 square feet of growth in the popular Frisco, Texas office market.
Supply had been suppressed causing big box corporate demand to lag behind the supply equilibrium curve.
In addition, Strasburger still had two years of remaining obligation at Hall Office Park.
Rubicon rigorously negotiated with Hall Office Park to relocate Strasburger’s requirement to a new development within the park.
Hall Office Park remained stern on raising rental rates to record highs, but Rubicon found a unique, off-market alternative development that was located just east of Hall Office Park with the same North Dallas Tollway frontage.
Strasburger attained a similar quality office development with superior top-of-building signage.
In addition, Strasburger achieved 23% lower rates and a participating interest in the new asset.
The commencement of the new lease synchronized with the expiration of the Hall Office Park lease.