DALLAS – November 7, 2013 – CBRE announces that SourceHOV, a global provider of transaction processing solutions, strategic consulting and data analytics services, has leased a new 70,000-square-foot global headquarters space in the Dallas suburb of Coppell, Texas.
SourceHOV is consolidating its North Texas business units and relocating its headquarters, located at 3232 McKinney Avenue in Dallas, into Coppell’s Business Park at 615 Freeport Parkway. Amazon and The Container Store both operate large facilities in the area.
“SourceHOV began searching for new space about 18 months ago when the Texas Department of Transportation announced an expansion of State Highway 183, which would take away the firm’s Irving production facility, under Eminent Domain,” said CBRE Vice President Dolores Wood-Euart, CCIM, who represented the firm in lease negotiations.
The firm will vacate 8,700 square feet in Southlake and 70,000 square feet in Irving this month. The global headquarters currently in 34,105 square feet at the McKinney Avenue office will soon follow in early 2014. “The relocation allows SourceHOV to right-size its operations based on functional requirements and current needs for office, production and warehouse space,” adds Wood-Euart.
CBRE is assisting in the search for an additional 200,000-square-foot warehouse facility to further support client requirements. Furthermore, the offices that are being vacated for the consolidation are currently available for sublease, and CBRE has been hired to market the properties.
SourceHOV will keep its offices in Fort Worth. It has more than 80 locations throughout the United States, as well as a presence in Canada, China, India, Mexico and the Philippines.
Randy Wood, with Duke Realty, represented the landlord, Texas Dugan Limited Partnership.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.