Michaels Stores Leases 123740 Sq Ft Office Space In Irving, TX With Accesso - Michael Williams (JLL)
LEASED
Texas
See Similar DealsOffice123,740 SF
LEASED
Michaels Stores Leases 123740 Sq Ft Office Space In Irving, TX With Accesso - Michael Williams (JLL)
W John W Carpenter Fwy, Irving, TX, 7...
See Similar DealsOffice123,740 SF
Summary
TEXAS
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:123,740 SF
Transaction Type:Lease
The office headquarters of Michaels Stores will be relocated to a 123,740-square-foot space at Royal Ridge III in Irving, Texas. Michaels, known for selling art supplies, hobby accessories, and home décor goods, has been operating in Irving since 2002. The Class A building will be fully occupied by Michaels in this relocation.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: W John W Carpenter Fwy, Irving, TX
- Market: Irving
- Landlord's Rep: Michael Williams (JLL)
- Tenant: Michaels Stores
- Landlord: Accesso
John Brownlee and Michael Williams from JLL represented the landlord, Accesso, in the lease negotiations. On the other side, Jamie Jennings of Stream Realty Partners and Damian Rivera of ESRP represented Michaels in the deal. The timeline for Michaels' relocation was not revealed in the announcement.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$7,092,702.13
Total Lease Value
$70,927,021.30
Net Landlord Cash Flow$7,092,702.13
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