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The project has been in the works for nearly a decade, since the developer began assembling the land. Bradley Colmer, Deco Capital’s founder, said it has been “quite a process to get neighborhood buy-in” and get city approvals. Deco was also involved in yearslong litigation with a Sunset Harbour neighbor, Beach Towing, that has been resolved.
At this week’s meeting, commissioners also voted on first reading to pass an ordinance that would encourage more office development in Sunset Harbour.
Previous versions of Deco Capital’s project called for nearly a dozen condos with more retail space. Colmer said the current design has more outdoor space for ground-floor retailers, in addition to luxury office space. The developer is targeting finance and investment firms, family offices, tech firms and other companies for the office space. Colliers’ Stephen Rutchik is handling office leasing, and Sara Wolfe of Koniver Stern is leading retail leasing.
Deal Ticker: Major Telecom Corridor Office Changes Hands
Plus: Holt Lunsford Commercial completes off-market sale of 600,000 square feet of industrial space; Dallas’ iconic gold Campbell Centre has a new owner, and more.
Share your top deals by emailing Real Estate Editor Bianca R. Montes at [email protected]. Industrial leases and sales must be over 50,000 square feet, office leases and sales over 3,000 square feet, and retail leases and sales must be over 1,500 square feet. All multifamily and mixed-use deals are currently welcome.
One of the largest office campuses in Telecom Corridor has exchanged hands. The Galatyn Commons office project in Richardson, which recently underwent a $40 million renovation, has four buildings with almost 800,000 square feet of space. Tenants in the buildings include Goldman Sachs, Steward Healthcare, Service King, and Raytheon. A fourth building houses operations of Bank of America. A company set up by Singapore-based Mapletree Investments P