6021 Connection

Las Colinas Submarket

Replacing a Full Building User

Piedmont challenged Peloton to find a replacement tenant for Nokia, who was in the process of downsizing on their campus. Peloton created awareness of the availability and secured another tenant before Nokia vacated with Epsilon, negotiating an early termination and buyout of the Nokia lease, keeping the project at 100% for a more than a decade into the future.

Challenge

  • Re-Lease the Building Where the Existing Tenant is Rapidly Downsizing

Strategy

  • Create Awareness of the Opportunity in the Market
  • Identify and Contact Large Users in the surrounding Las Colinas and Freeport Submarkets
  • Leverage Corporate Headquarters Appeal of Project
  • Navigate Property Showings Despite Nokia’s Occupancy.
  • Negotiate With all Three Parties to Successful Termination of Existing Tenant and Lease with New Tenant.

Results

  • Leased Entire Building to Epsilon Solutions and Alliance Data Company