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Picture-perfect lease: Michaels' framed art division nabs 270,800 sfPicture-perfect lease: Michaels' framed art division nabs 270,800 sfhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=116322016-01-05T06:00:00Z

​GRAPEVINE – ​​Irving-based craft retail giant Michaels Companies Inc. will move its framed art divisional headquarters near the Dallas-Fort Worth International Airport, which will ultimately reduce the operation's real estate costs by 20 percent.

Michaels signed a long-term le​ase for 270,800 sf of office and distribution space at Trade Center VI at International Commerce Park at 2450 Esters Blvd. The deal concludes an 18-month search, moving the company's framed art division into new offices after more than 15 years at a Coppell facility. 

Anywhere from 225 to 300 employees will move into the new building on its build-out in May. Around 30,000 sf will be devoted to corporate offices for the division. The remainder will be for light assembly and distribution.

E. Smith Realty Partners and Stream Realty represented Michaels in the lease negotiation. CBRE and Trammell Crow represented the landlord, Trammell Crow.

Dallas Business Journal
Dallas-Fort Worth-Arlington
Mixed-Use
http://www.bizjournals.com/dallas/news/2015/12/30/michaels-to-move-artistry-divisional-hq-to.html?iana=ind_creRead more at {Source}

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