Landlords Have the Edge
DFW's hot office market means landlords can skip the free rent and early terminations, says Dominus Commercial prez Stephen LaMure. It's benefited his business as his team leads the leasing for multiple properties including Lee Park Tower 1, which has gone from 30% occupied to about 90% since taking over the leasing assignment 18 months ago. (Pictured, Stephen and the Dominus team at last year’s Christmas party at Moon River Ranch, near Waco.) Dominus has done a similar job with Office in the Park at 14675 Midway Rd, which has gone from 35% occupancy to almost 75%. Dominus’ Justin Owen recently inked a 15k SF lease by the City of Addison there.
Stephen and his team also repped a local investment group in the acquisition of the 210k SF 8390 LBJ (aka LBJ Tower) from Millennium First Development. Dominus will manage and lease the property, too. Stephen says the completion of the LBJ toll road in the next 12 months will help LBJ Tower compete with properties in Richardson and along Central Expressway. It also has another feature: a 100k SF contiguous block of vacant space. Stephen says there are already tenants in discussion for 80k SF and up. He wants to expand Dominus and tells us he's looking for more brokers. He's also prepping now for a trip of a lifetime: red stag hunting in New Zealand next year.