Big Telecom Corridor Office Lease Provides New HQ for Service King

One of the largest recent office leases in Richardson will fill some of the office space State Farm Insurance left behind when it moved to its new regional campus.Service King Collision Repair Centers has rented space for its headquarters in the Galatyn Commons buildings, located at 2375 North Glenville Drive.The auto repair chain is taking 64,916-square feet of offices in the campus, which is located east of North Central Expressway in the Telecom Corridor.About 170 Service King home office employees will make the move from a smaller office in Richardson to the new location this summer.Dallas architect Corgan is designing the company's new headquarters space. The new offices represent an expansion from the company's current location and provide room for future growth.Service King has been located in Richardson since 1999."Our team has grown tremendously in the last several years, and this new home office will provide the space, technology, and amenities that will continue to foster a growing team for years to come," Michelle Frymire, Service King Chief Financial Officer, said in a statement.Service King - which has been in business since 1976 - operates more than 300 collision repair centers nationwide.The company is the first large office lease in the Galatyn Commons buildings, which are being upgraded and marketed to new tenants following State Farm's departure.California-based Spear Street Capital acquired the 4-building, 800,000-square-foot office complex in late 2014 and just completed a multimillion-dollar makeover of the property."Galatyn Commons is the ideal combination of class A office space, location, and on-site and nearby amenities their company was looking," said Ankenbrand, who along with JLL's Steve Thelen represented Service King in its hunt for a new headquarters site.Chris Taylor with Cushman & Wakefield and Russ Johnson with Peloton Commercial Real Estate represented landlord Spear Street in the transaction.Taylor said tenant interest in the building has increased since the remodeling work has wrapped up."We currently have 500,000 square feet of active proposals outstanding and we're pursuing another 1.6 million square feet in additional prospects," he said.The buildings - which originally housed operations for Nortel Networks - were constructed between 1997 and 2000.The four building have one of the largest blocks of empty office space along U.S. Highway 75.The office space was left behind when State Farm Insurance moved its workers to its just-completed 4-tower office complex in the CityLine development at Bush Turnpike and Plano Road.  Continue reading...