TrendHR Services, a human resources outsourcing, employee benefits and consulting services firm, has pre-leased 24,000 square feet of office space within the planned tower overlooking Lake Ray Hubbard, called Trend Tower at Harbor Heights. The project is owned and developed by Sterling One Properties, which is based in nearby Heath.
A Rockwall-based human resources firm is kicking off the construction of a $25 million, seven-story, 105,000-square-foot executive office tower in Rockwall.
Construction on the tower on the hill at the corner of Interstate 30 and Horizon Boulevard will begin in July. The construction will take an estimated 14 months.
With year-over-year revenue growth since its inception in 1997, TrendHR has outgrown its headquarters on State Highway 205 in Rockwall, and the company predicts continued growth, said Dan W. Bobst, its founder.
The human resource outsourcing firm has roughly 15 corporate employees and a number of companies and job seekers who come into its offices. The company would not disclose its annual revenue.
“These views of the beautiful shores along Lake Ray Hubbard are unparalleled in all of North Texas and will help Rockwall County become a destination like San Antonio and Austin,” Bobst said.
David Dees and Stephanie Thompson, directors at CASE Commercial
Real Estate Partners, were recently awarded the leasing assignment on the building by Sterling One. The duo represented the developer in the real estate deal.
Trend Tower will be the first component of a master-planned development called Harbor Heights, which includes three other office towers similar to Trend Tower, 1,200 condos and five retail pads. The development will sit on 62 acres.
“The hope for this tower is to set the tone for the rest of the development for the whole hillside area to the quality we are looking for,” said Russell Phillips, one of the owners of Sterling One Properties, which is developing Harbor Heights. “It is the centerpiece of the development, and we are excited about it.”
Miami-based Rad Architecture Inc. is the architect. Sterling One Construction is the general contractor and will begin bidding for subcontractors for work in June, including concrete, electrical, roofing, masonry, Sheetrock, and heating and air conditioning.
The office tower has 14,285-square-foot floors, with a covered parking structure. The property is being marketed for lease at $33 per square foot, plus electricity.
For the Dallas-Fort Worth area, the average rental rate is $20.30 a square foot, with a 21.1 percent vacancy rate, according to the latest data from Cushman & Wakefield of Texas Inc.
CASE Commercial has about 30,000 square feet of leases out to companies that include banks, oil and gas companies, energy firms, medical users, title companies and a real estate firms, officials said.
“We have already received positive response from businesses who are tired of making the trip into Dallas and have been looking for a location that is closer to home,” Dees said. “Being adjacent to The Harbor and the Hilton Hotel, we are also receiving calls from businesses looking for something extra to offer their employees from what Dallas has to offer.”
One of the selling points of the office tower is its proximity to the restaurants, retail, entertainment and walking trails near Lake Ray Hubbard, said Thompson, who grew up in Rockwall and attended Rockwall High School.
“The Harbor is the newest thing in Rockwall, and in the past eight years the development along the lake has prospered,” she said. “There is tremendous curbside appeal of the office tower in that location.”
The overall success of the Harbor’s development is based off this Class A office tower, which is the first of its product type within the city, said Mayor David Sweet.
“This is one of the pieces of real estate that will shape the future of Rockwall,” Sweet said. “This is our first piece of Class A office space.”
by Candace Carlisle
Dallas Business Journal
5/27/2011