Four new tenants will move into Westlake’s recently renovated Solana office park, right on the heels of Goosehead Insurance’s announced relocation of its corporate headquarters.
Solana owner Equity Office, which is owned by Blackstone, will welcome the Town of Westlake with a 20,580-square-foot lease. Oliver Wyman will join its parent company Marsh & McLennan Cos. with a 12,109-square-foot lease. A federal government entity will occupy 11,760 square feet. And Irving-based Advanced Plan for Health will move into 10,392 square feet. JLL handles leasing for the campus.
Within the first year of Blackstone’s ownership in 2016, the investment firm pumped $70 million into campus renovations, including adding landscaping, retail, and a fitness enter. Blackstone purchased the campus, which formerly housed IBM, out of foreclosure in 2014.
“When owners spend the right capital, which Blackstone has done, it helps boost leasing momentum,” JLL Managing Director Jeff Eckert said. “These leases are directly correlated to that [capital reinvestment].”
In addition to these new leases, Eckert said JLL has interest from several other potential tenants that he expects to move forward on immediately. Tenants of all sizes have shown interest in the campus.
Pfizer, Sabre, Travelocity and Marsh & McLennan Cos. are some of the largest office tenants within the 233-acre park. In January, Goosehead Insurance leased 62,000 square feet. Rents within the park’s nine office buildings range from $17 per square foot to $19 per square foot, excluding utilities.
The campus includes more than one million square feet of office space and has availability for another one million square feet of build-to-suit tenants. Solana has the largest Class A office availability in Dallas-Fort Worth, according to JLL.
