Two More Leases announced at 1.1 MSF The Terraces Near Dallas

WESTLAKE, Texas / CHICAGO (April 9, 2024) — Chicago-based Glenstar, a national commercial real estate developer, owner and property manager, today announced it executed two new leases totaling nearly 31,000 square feet at The Terraces, an eight-building, 1.1 million-square-foot office complex at 1500 Solana Blvd. in Westlake, Texas, between Dallas and Fort Worth. ECI Software Solutions took occupancy of its space last month, and Weider Health and Fitness will move into space at the extensively redeveloped office park in May.

“These leases reflect the trend of companies relocating to top-tier buildings with abundant amenities in desirable locations,” said Mickey Stefan, principal of Glenstar Properties. “At The Terraces as well as in all our office parks, we focus on creating the modern, collaborative environments that attract top-level talent.”

Glenstar completed a $25 million renovation of The Terraces, originally built for IBM, in 2021 to meet today’s need for more collaborative, aesthetically pleasing and welcoming corporate environments. The revitalized campus brings almost 50,000 square feet of highly desirable amenities, including a full-service restaurant, an upscale lounge with operating bar service, multiple indoor and outdoor seating/collaboration areas with firepits, bocce ball courts, a large technologically advanced tenant conference facility, a large state-of-the-art fitness facility with luxurious locker rooms and covered parking.

The renovation has proven successful: Since the pandemic began, Glenstar has completed 310,000 SF in new leases and 270K SF square feet of renewals at The Terraces.

“Our investment has paid off already, and we’re optimistic for the future of the Dallas-Fort Worth office market,” Stefan said. “From what we’re seeing, office tenants continue their in-market flight-to-quality relocations, and we will see new-to-market occupiers as well. Our two recent leases reflect this trend, as they include a move by local firm ECI and the relocation of Weider from California.”

ECI Software Solutions

Glenstar executed a 25,468-square-foot lease for the world headquarters of ECI, a provider of cloud-based software for small- and mid-sized businesses. Following an extensive tenant buildout, ECI took occupancy of the entire fifth floor of Building 6 at The Terraces. The company, which has offices in 14 countries and eight U.S. cities, previously was based in Fort Worth’s Alliance Corridor, where it occupied 48,000 square feet in a less finished and amenitized space.

“With our 100% hybrid policy, we needed a smaller, more intimate space that’s bright, warm, well-amenitized and helps us ‘earn the commute’ of our employees,” said Andrew Pryor, Chief Human Resources Officer at ECI. “Our office and the campus foster our warm, friendly, personable culture. You don’t have to be chained to your desk; you can take your phone calls at a picnic table or in a hammock. For a recent meeting, we sat around an outdoor firepit, and for larger meetings, we use the conference center. We love the campus and all that it brings to us.”

Pritchard Associates, along with Glenstar Properties’ Kristi Layton, managed the tenant buildout construction process, while RTTX Construction acted as GC, which included creating private offices, open shared spaces, unique gathering spaces and breakout areas, for the firm. ECI has 216 employees in the Dallas/Fort Worth area. Of those, 66 have committed to coming in on Tuesdays and Wednesdays and are assigned a dedicated desk. If an employee wants to come into the office for a day, they can use one of several hotel desks in ECI’s space.

“The aesthetic is modern and intimate with lots of glass,” Pryor said. “100% of employees now have access to windows and open spaces. We built in sound masking so you don’t feel overwhelmed by noise. We have banks of booths, multiple hoteling desks and eight different break-out spaces. All interior walls are glass, and the interior offices of executives are 100% open. We felt it was necessary to create a space that allows collaboration and creativity to make the most of the time employees have together.”

Weider Health and Fitness

Weider Health and Fitness, the holding company for Gallery 19C and Weider Global Nutrition, will be moving its office from Woodland Hills, Calif., into a 5,500-square-foot space at The Terraces in May. Weider Health and Fitness owner Eric Weider, a collector of 19^th century European paintings, had relocated Gallery 19C to 3,358 square feet in Building 5 of The Terraces last year, and the positive experience convinced him to move the holding company to The Terraces as well.

“I was really impressed with the look and feel of the campus, the amenities, the management and staff, and the feeling of security,” said Weider. “I like the proximity to the airport, the freeway and local amenities such as hotels and restaurants in nearby Westlake and Southlake.”

Located 11 miles west of the Dallas/Fort Worth International Airport and situated midway between the premier business districts of Dallas and Fort Worth, The Terraces provides immediate access to a dense and talented employee base.

Jeff Eckert represented ownership in the ECI Software Solutions lease while Stephen Rury of Colliers represented the tenant. For the Weider Health and Fitness lease, Haley Hullet represented ownership. Offices at The Terraces are being leased by Jeff Eckert, Blake Shipley, Frank Taylor and Haley Hullet of the Dallas office of JLL.

About Glenstar:

Glenstar Properties is a Chicago-based national commercial real estate firm specializing in industrial development, reimagined office and multifamily properties. Founded in 2004 by Michael Klein, along with Rand Diamond, Glenstar has successfully developed or redeveloped more than $2 billion in commercial space comprising 10 million square feet across the U.S. Its nimble, tenant-focused approach and vertically integrated structure allow Glenstar not only to pursue and execute opportunistic projects, but also to oversee and manage them seamlessly.