Global real estate services firm Newmark has arranged the long-term leasing of 14,463 square feet for Century Payments at Hall Office Park in Frisco, Texas, allowing the growing company to expand its offices by nearly 6,000 square feet.
Clay Vaughn and Jeffrey D. Eiting of Newmark’s Dallas office brokered the transaction amid very tight market conditions that currently prevail in the Frisco and Plano area.
The additional office space for Century Payments at the 2601 Network Boulevard address in Frisco was secured on a single floor. A second tenant was relocated so that Century could expand into space contiguous to its existing office, Vaughn said.
Incentives awarded by the Frisco Economic Development Corporation under programs aimed at local business retention tipped the balance for Century Payments, according to the Newmark brokers.
“The team searched for space in both Plano and Frisco, which are both exceedingly hot markets for office space right now,” said Vaughn. “It made the most sense for the client to stay once the availability and incentives were available. Plus, Century Payments retains the benefits of existing signage at its current location.”
“The Frisco business climate is very accommodating to corporate growth and expansion, as exhibited by Century Payments,” said Jim Gandy, president of the Frisco Economic Development Corporation. “The Frisco EDC is proud to work closely with our corporate residents to ensure a productive relationship.”
The landlord, Hall Financial Group, was represented by Kim Butler in the transaction.
About Century Payments, Inc.
Century Payments, Inc. is a nationally recognized leader in the electronic payment processing industry, dedicated to developing the most progressive, dynamic programs to benefit merchants, partners and agents alike. Through its white label alliance programs, Century is the fastest growing electronic payments company having boarded over 50,000 merchants in the last three years and processing close to $10 billion in annual volume. In 2011 Century entered into an elite group recognized on the Inc. 500 List as one of the top 20 fastest growing, privately owned businesses for two consecutive years. The company is headquartered in Frisco, Texas. Visit www.centurypayments.com for more information.
Newmark is one of the largest real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank together operate from more than 240 offices in established and emerging property markets on five continents. With a combined staff of more than 7,000 and revenues last year exceeding $993 million, this major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide. For further information, visit www.newmarkkf.com.
Newmark is a part of BGC Partners, Inc. (NASDAQ:BGCP), a leading global brokerage company primarily servicing the wholesale financial markets. For further information, visit www.bgcpartners.com.