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Economic Development News

Posted on: July 23, 2020

Accesso Signs Lease with The Michaels Companies, Inc. at Royal Ridge III in Irving

Michaels headquarters sign with logo

Accesso, a fully integrated investment manager and operator of multitenant office buildings, today announced that it has signed a lease with The Michaels Companies, Inc. to occupy 123,740 square feet of space at Royal Ridge III in Irving. It will be the property’s sole tenant. The location will serve as the corporate headquarters for Michaels, a Fortune 1000 company that has been a fixture in Irving since 2002.

Abbey Rowsey, Director, Asset Management and Special Projects for Accesso, said, “We are excited to welcome Michaels to the Accesso family and are honored it selected Royal Ridge III for its corporate headquarters. Michaels is a first-class organization focused on bringing people together, and like us, is a strong contributor to the communities it serves. The leasing process – from initial conversations to signed agreement – was completed within an efficient timeframe, and I personally commend the teams at both Accesso and Michaels and their brokers for how diligently they worked to make this important lease come together despite the unique challenges posed by COVID-19.”

Artist's rendering of the new Michaels headquarters.Royal Ridge III is a modern and engaging Class A office property situated on John Carpenter Freeway (119,000 cars per day) with a layout designed to foster a creative, collaborative work environment. Conveniently located near the Dallas/Fort Worth International Airport and numerous flagship hotels, the building features 10-foot ceilings and large glass windows that allow for natural light to permeate throughout.

Irving Mayor Rick Stopfer said, “Michaels has been an extremely valuable corporate citizen in our community for almost 20 years. Not only does the company provide quality jobs for our residents, but its focus on good stewardship, volunteerism and promoting opportunities for its workforce to be a part of the Irving community is invaluable. We look forward to continuing our strong partnership with the company and its team into the future.”

In preparation for Michaels arrival, Accesso implemented a number of health and safety measures at the property to help mitigate the spread of infectious diseases. These protocols include adding more hand sanitizing stations and leveraging the Blue Box™ HVAC cleaning technology, which filters out harmful bacteria and toxic pollutants to ensure the system is properly circulating the highest-quality air.

Irving Economic Development Partnership President and CEO Beth A. Bowman commented, “Continued access to our highly-skilled workforce, central location, as well as business-friendly environment remain critical priorities to our business-industry as they evaluate real estate options. Our team is focused on leveraging that unmatched suburban location to enhance the tax base of our community. We are proud this Fortune 1000 headquarters will continue to remain at home, in Irving-Las Colinas.”

JLL’s John Brownlee and Michael Williams served as the leads broker for Accesso, while Jamie Jennings of Stream Realty Partners and Damian Rivera of ESRP represented Michaels.