{"id":1004572493,"date":"2022-03-18T12:53:33","date_gmt":"2022-03-18T20:53:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004572493"},"modified":"2022-12-08T16:50:29","modified_gmt":"2022-12-09T00:50:29","slug":"piedmont-renews-164-ksf-dallas-area-office-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/piedmont-renews-164-ksf-dallas-area-office-lease\/","title":{"rendered":"Piedmont Renews 164 KSF Dallas-Area Office Lease"},"content":{"rendered":"<div id=\"attachment_1004572494\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/03\/750-W-John-Carpenter-Freeway-e1647614686851.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004572494\" data-attachment-id=\"1004572494\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/piedmont-renews-164-ksf-dallas-area-office-lease\/750-w-john-carpenter-freeway\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/03\/750-W-John-Carpenter-Freeway-e1647614686851.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"750 W John Carpenter Freeway\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;750 W. John Carpenter Freeway&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/03\/750-W-John-Carpenter-Freeway-e1647614686851.jpg?w=640\" class=\"wp-image-1004572494 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/03\/750-W-John-Carpenter-Freeway-e1647614686851.jpg?w=300\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/03\/750-W-John-Carpenter-Freeway-e1647614686851.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/03\/750-W-John-Carpenter-Freeway-e1647614686851.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004572494\" class=\"wp-caption-text\">750 W. John Carpenter Freeway<\/p><\/div>\n<p><strong>Piedmont Office Realty Trust <\/strong>has finalized a lease renewal for roughly 164,000 square feet of Class A office space at the 314,714-square-foot 750 W. John Carpenter Freeway in Irving, Texas. The tenant, a national pharmaceutical retailer, agreed to occupy the space until 2028.<\/p>\n<p>The 12-story property last traded in late 2016, when Piedmont Office Realty Trust paid $49.6 million for the <a href=\"https:\/\/www.commercialsearch.com\/news\/top-10-states-for-leed-certified-office-properties-in-2021\/\">LEED Gold certified<\/a> complex previously known as CVS Health Tower and Sterling Commerce, CommercialEdge data shows.<\/p>\n<h2>A closer look<\/h2>\n<p>The renewal solved Piedmont\u2019s largest lease expiration of the year. While the retailer was not named in the press release, CVS Caremark was the only tenant on the Atlanta-based company\u2019s roster that had a lease expiration set for 2022, according to the company&#8217;s fourth quarter report.<\/p>\n<p>\u201cSo specifically with CVS, as we&#8217;ve noted before, we&#8217;re well down a path and we feel like that it&#8217;s likely that they&#8217;ll renew on a majority of the space,\u201d Brent Smith, president &amp; CEO of Piedmont Office Realty Trust, said during the company\u2019s fourth quarter earnings call.<\/p>\n<p>As of January, the <a href=\"https:\/\/www.commercialsearch.com\/news\/dallas-fort-worth-market-update-plateauing-vacancy\/\">office vacancy across the Dallas-Fort Worth metro<\/a> remained at 17.6 percent, the same level as the prior month, according to CommercialEdge. While this figure marks a 90-basis-point year-over-year improvement, it is well above the national average of 15.7 percent.<\/p>\n<h2>750 W. John Carpenter Freeway<\/h2>\n<p>Built in 1998, the office mid-rise property covers more than 17 acres at 750 W. John Carpenter Freeway and features 26,000-square-foot floorplates, as well as a parking ratio of 4.00 spaces per 1,000 square feet. The complex also includes a conference center, a fitness facility and tenant shuttle service, among other amenities.<\/p>\n<p>The owner plans to upgrade the property with a redesigned lobby, a renovated tenant lounge, as well as an expanded outside collaboration area.<\/p>\n<p>750 W. John Carpenter Freeway is within 4 miles of Interstate 35E and less than a mile from the Hidden Ridge DART station. Downtown Dallas is some 14 miles southeast.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A national pharmaceutical retailer has agreed to occupy the space until 2028. <\/p>\n","protected":false},"author":1763,"featured_media":1004572494,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1586,22251,21742,21747],"tags":[32779,34703],"class_list":["post-1004572493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-dallas","category-in-focus","category-latest","category-office","tag-leed","tag-piedmont-office-realty-trust"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Piedmont Renews 164 KSF Dallas-Area Office Lease - CPE<\/title>\n<meta name=\"description\" content=\"Piedmont Office Realty Trust has renewed a 164,000-square-foot office lease at 750 W. 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