Simpson Strong-Tie Inc. has signed a 38,372-square-foot lease at Granite Park Six in Plano, Texas. CBRE assisted the tenant in the negotiations, while owner Granite Properties had in-house representation.
The structural engineering firm will occupy a floor and a half at the 422,109-square-foot property, with the move-in scheduled for the fourth quarter. CBRE, together with OTJ Architects and general contractor Pacific Builders, will oversee the tenant build-out.
This will be Simpson’s second North Texas location after its production facility in McKinney, some 15 miles northeast of Granite Park Six.
Dallas-Fort Worth’s vacancy rate reached 23.8 percent as of February—higher than the national figure of 19.7 percent—according to a recent CommercialEdge report. The index witnessed a 260-basis-point increase over the year.
A LEED Silver-certified office building
The future home of Simpson Strong-Tie came online in 2023 at 5525 Granite Parkway. The 19-story tower is part of the 90-acre Granite Park, a mixed-use campus that also includes retail and hospitality spaces. Amenities at the LEED Silver-certified high-rise include a fitness studio, indoor customer lounge, as well as a 150-seat lecture hall, three conference centers and 35,000 square feet of ready suites ranging from 1,500 to 5,500 square feet.
The tenant roster features Atlantic Aviation and Stonebriar Commercial Finance, among others, CommercialEdge information shows. Currently, the high-rise is 58 percent leased.
READ ALSO: Dallas Office Construction Starts Ramp Up
During the past five months, Granite Properties has landed more than 126,000 square feet of leases at the property. In one of the deals, Lockton committed to 52,961 square feet.
Located just off Texas State Highway 121, Granite Park Six is 25 miles north of downtown Dallas and some 20 miles northeast of Dallas-Fort Worth International Airport. The high-rise is also near the 1.7 million-square-foot Stonebriar Mall at the Bridges.
CBRE Executive Vice Presidents Doug Carignan and Ryan DeAngelis, together with First Vice President Christy Rhea, represented Simpson Strong-Tie in the transaction. Senior Director Robert Jimenez, Director Burson Holman and Manager Elizabeth Fortado led Granite’s in-house team that worked on behalf of the ownership.