Bombay Spin-Off Unpacks in HQ Space

ARLINGTON, TX-A spin-off business unit of the Bombay Co. is unpacking in 3,750 sf of as-is, class B office space that will be used as its headquarters. The two-year deal was in the market four months.

“It’s a holding spot,” Lee Wagner with Grubb & Ellis Co. in Dallas tells GlobeSt.com about Bailey Street’s lease of an office with built-in expansion capabilities at 1600 E. Lamar Blvd. Jim Poynter of Poynter-Scifres Cos. in Arlington handled negotiations for the local building owner of record, 1660 Lamar Ltd., which has the space on the market for $15.25 per sf plus electric.

Wagner says Bailey Street’s executive team got part of the top floor of the three-story, 87,018-sf building. According to the North Texas Commercial Association of Realtors, there is another 24,966 sf empty in the structure. “Poynter-Scifres was responsive and aggressive in making the deal,” he says.

Wagner says a dozen buildings, all in the Arlington area, went under the magnifying glass. Not only did the lease terms make the 1600 Lamar Building the right one, but the built-in expansion space, roughly another 1,800 sf, and short-term lease availability also served as dealmakers, he says. “This will be a company to watch over the next couple years,” says Wagner, who teamed with Grubb & Ellis’ Steve Wolff to locate and negotiate the headquarters site.