Non-Traded REIT Leases 119,611 Square-Foot Building to One Tenant

Public, non-traded REIT Signature Office REIT (Signature) recently leased a full building in Irving, Texas to NEC Corporation of America (NEC). 

The 10-year lease term begins December 1, 2015 for the 119,611 square-foot building named Royal Ridge V, which is located at 3929 W. John Carpenter Freeway. 

“Royal Ridge V contained many technological advantages that are important to the testing of our products and solutions. When we toured the facility, we were impressed with the technical infrastructure already in place,”  said Carter Holston, Director of Facilities and Real Estate for NEC Corporation of America.

NEC provides IT and communications solutions plus managed services and biometrics solutions. 

Scott Brown, Senior Vice President – Asset Management of Signature said, “NEC supports our strategy to have long term, credit-worthy tenants occupying our buildings.”

As of September 30, 2014, Signature Office REIT had $676 million in invested assets across 13 properties according to data from MTS Research Advisors. 

In late November 2014, it was announced the Griffin Capital Essential Asset REIT would acquire Signature Office REIT creating a $3 billion office and industrial REIT.