Century 21 Mike Bowman Signs Lease at Westlake Office

The $25 million renovation of a Westlake office campus has lured tenants, including Texas’s largest Century 21 brokerage.

Century 21 Mike Bowman signed one of three new leases at Terraces at Solana, an eight-building, 1.1 million-square-foot office complex at 1500 Solana Boulevard. The leases bring the property’s occupancy to 80 percent, according to a release from property owners Glenstar and Singerman Real Estate, which are based in Chicago.

The resi brokerage, which had a 17,000-square-foot office in Grapevine, will occupy 18,000 square feet on the first floor of the 278,000-square-foot Building 8 starting in September.

In addition, workforce development company Pluralsight moved its headquarters from Draper, Utah, to a 26,000-square-foot space in Building 6. Defense contractor M1 Support Services is shifting its headquarters from Denton to Building 5 of Terraces, where it inked a deal for 26,000 square feet of the 124,000-square-foot building.

The leasing momentum at the property follows a $25 million renovation completed in 2021. The campus now has 50,000 square feet of amenity space, including a restaurant, conference center, gym and covered parking.

The amenities sealed the deal for Century 21 Mike Bowman, said president Dave Bowman. Specifically, the brokerage will be able to host national events in the conference center.

These wins for the property speak to the strength of the office market in Dallas-Fort Worth suburbs. Companies are eager to locate closer to where employees live, in places like Westlake, which is an upscale suburb about 30 miles northwest of Dallas.

Halfway through the year, JLL reported positive net absorption for the North Texas office market. It was highest in the second quarter in suburbs like Plano, McKinney and Irving’s Las Colinas area.

Vacancy is stuck at 27.7 percent across Dallas-Fort Worth, according to JLL. The high rate is attributable to empty space in the region’s office properties built in the ’80s and ’90s.

The vacancy rate has declined for Class A properties, CBRE reported, highlighting the continued prevalence of the flight-to-quality trend that has office users seeking properties with high-end amenities to lure their remote workers back to the office.