Service King Collision Repair Centers Announces New Richardson Home Office at Galatyn Commons
JLL Successfully Negotiates New Office Lease for Automotive Repair Company
DALLAS, January 30, 2017
– JLL today announced the firm successfully negotiated a 64,916-square-foot office lease on behalf of Service King Collision Repair Centers®
. The industry-leading automotive repair company will open new offices at Galatyn Commons, located at 2375 North Glenville Drive in Richardson, Texas. The new home office will initially house approximately 170 Service King teammates, who will be relocating from the company’s current home office in Richardson’s Tower 2600.
Service King expects to take occupancy of the new office by summer 2017. Dallas-based architecture and design firm Corgan is planning the facility’s interior design prior to build-out.
Service King was founded in Dallas in 1976 and has had its headquarters in Richardson since 1999, when the company had only nine collision repair facilities. Since then, Service King has grown tremendously to offer more than 300 collision repair centers nationwide today, and remains committed to long-term growth from its new Richardson home base.
“This is a tremendous step in the ongoing evolution of the Service King family,” said Michelle Frymire, Service King Chief Financial Officer. “We never waver in our pursuit to provide Service King teammates with best-in-class support. 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. We’re proud to call Galatyn Commons Service King’s brand new home."
Service King has been deeply invested in the Richardson community, including as a member of the Richardson Chamber of Commerce and through repeat participation in the City’s Corporate Challenge, an Olympic-style series of athletic and non-athletic competitions involving leading companies from across North Texas. The company also received the Richardson EDGE Loyalty Award from the Richardson Chamber of Commerce and City of Richardson in 2015, recognizing its long-time Richardson roots and positive, local impact.
“Service King’s continued, growing presence in Richardson further validates our focus on nurturing innovative companies from a variety of sectors that are succeeding on a national and global scale,” said Richardson Mayor Paul Voelker. “We are very pleased that Service King has found a new home base within Richardson’s incredibly vibrant Telecom Corridor® area. We appreciate their reaffirmed commitment to Richardson, and know they will continue to benefit from the synergies of having other business innovators and service-oriented firms nearby.”
Managing Director Steve Thelen and Vice President Kimarie Ankenbrand negotiated the lease on behalf of the tenant. Chris Taylor with Cushman & Wakefield and Russ Johnson with Peloton Commercial Real Estate represented the landlord.
“Service King provides unsurpassed customer service to their customers and our goal was to provide that same level of service to their teammates in securing a long-term office solution that met their needs,” said Ankenbrand. “Galatyn Commons is the ideal combination of Class A office space, location, and on-site and nearby amenities their company was looking for. We’re glad to have played a role in finding their new corporate offices.”
Spear Street Capital acquired the four-building, 800,000-square-foot Galatyn Commons in late 2014. Its recently completed multimillion-dollar renovation created one of the most unique office environments in North Texas. New amenities include a full-service cafeteria, coffee shop, conference center, a resort-style fitness center, Wi-Fi throughout all indoor and outdoor common areas, and a 300-seat employee lounge with collaboration areas. Beyond that are an expansive outdoor kitchen, multiple outdoor dining and meeting settings, bocce ball courts, fire pit, bicycle check-outstations, food truck court, and an outdoor stage and amphitheater for large company events capable of accommodating several thousand people.
“We are excited to welcome Service King to Galatyn Commons,” said Taylor, Executive Managing Director at Cushman & Wakefield. Leasing activity has significantly increased since Spear Street Capital completed the redevelopment and expanded the parking ratio to 5 per 1,000, he said: “We currently have 500,000 square feet of active proposals outstanding and we’re pursuing another 1.6 million square feet in additional prospects that are considering the Richardson/Plano submarket.”
“The lease from Service King validates Spear Street Capital’s redevelopment strategy, as well as the appeal of Richardson,” said Johnson, principal at Peloton. “The redevelopment has created a unique multitenant office campus that currently does not exist in the DFW market,” he said. “Its multiple new indoor and outdoor amenities are attracting corporate America, which needs this tool to attract and retain their employees.”
The Richardson/Plano office submarket has 709,186 square feet of recently completed Class A office space, year-to-date through Q4 2016, second only to the Far North Dallas office submarket, with 1.68 million square feet according to JLL Research