Opus West Corporation has secured two new leases for an additional 73,500 square feet of office and warehouse space at 121 Lakepointe Crossing, an industrial development in Lewisville, Texas. With the addition of the new tenants – Mustang Electric Supply and Decorator’s Choice – the nearly 650,000-square-foot project is now 92 percent leased.

 

121 Lakepointe Crossing sits on 29 acres and is visible from State Highway 121 in Lewisville, Texas, northwest of Dallas and just a few miles from Interstate 35E. The project was originally designed by Opus Architects & Engineers and developed in 2003 for companies seeking distribution and warehouse space.

 

“The recent completion of the main lanes of the 121 Tollway has been a significant draw for companies seeking to operate or expand into the corridor. Additionally, the infrastructure upgrades have increased visibility and greatly enhanced access to 121 Lakepointe Crossing,” said Geoff Meyer, director of real estate development for Opus West Corporation. “The property is a first-rate location for companies seeking spatial flexibility and lease value.”

 

Frisco, Texas-based Decorator’s Choice, a complete home décor shopping and consultation destination, signed a 10-year, 45,300-square-foot lease at the project. The space will house offices, a showroom and a distribution center.

 

Mustang Electric Supply, a full line electrical distributor that furnishes electrical products to residential and commercial contractor markets, signed a five-year, 28,200-square-foot lease for office and warehouse space that will serve as a base for its growing Texas operations.

 

Opus West was represented by Bob Hagewood, Blake Kendrick and Chris Jackson of Stream Realty Partners in both lease deals. Andy Kampen of Banner Commercial served as the broker for Decorator’s Choice and David Weatherington of Transwestern represented Mustang Electric Supply.

 

The 121 Lakepointe Crossing project is in a Triple Freeport designated zone, which is economically beneficial to companies that distribute products out-of-state by allowing local authorities to exempt taxes on goods that have been acquired in or imported into Texas to be forwarded out-of-state within 175 days. In addition to its Triple Freeport Tax Exemption, the City of Lewisville has consistently held one of the lowest combined effective property tax rates in the Dallas/Fort Worth Metroplex. Coupled with its low sales tax rate and streamlined development review process, Lewisville continues to be a top choice for leading industry and residential development.

 

Opus West Corp. is headquartered in Phoenix and is one of five regional companies within the Opus Group. The Opus Group, based in Minneapolis, is a full-service real estate development company with 55 years of experience. Opus is recognized as a national leader in office, industrial, retail, multifamily, government and institutional development and has offices across the United States and in Canada. Committed to creating great real estate, Opus implements best practices in sustainable design and construction to maximize building performance and reduce environmental impact. A community steward since its inception, the Opus Group is committed to the long-term development of people and communities by contributing 10 percent of its pre-tax profits to community organizations. For more information, visit www.opuscorp.com.