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170K-SF Lease Renewal and Expansion Secured
GI Partners, headquartered in San Francisco, negotiated a lease renewal and expansion totaling 169,136 square feet for the University of Texas at Dallas’ UTDesign program. The space is a design studio for senior engineering students, located at 3000 Waterview Pkwy. in Richardson, TX, a northern suburb of Dallas.
The UT Dallas buildings are part of a larger, 300,820-square-foot, Tier III data center and office complex owned by DataCore LP, a fully discretionary core real estate fund managed by GI Partners. GI Partners acquired the asset in late 2015, with an in-place occupancy of 74%. The property is currently 100% occupied.
The UTDesign program studio houses 56 project stations, which will grow substantially, once the program’s expansion is complete. The expanded design studio will offer a computer lab and machine shop, as well as seminar, conference and secured lab rooms.
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