Citadel Partners Secures Financial Incentives to Make the Deal Work
Citadel Partners Partner Mac Morse and Fibergrate President Eric Breiner at Fibergrate’s new HQ in FarmWorks One.
ALLEN, TEXAS – (April 30, 2025) – Fibergrate, a Dallas-based manufacturing company, moved into its new Dallas headquarters in the FarmWorks One building at 1234 Johnson Road in Allen. Taking 13,126 square feet, Fibergrate is the development’s first tenant to move into the brand new 102,000-square-foot development.
Fibergrate’s global representative, Hanna Commercial Real Estate Managing Director Anthony Delguyd, worked with Citadel Partners Partner Mac Morse and Managing Partner Scott Morse, who provided local market expertise and perspective to Fibergrate. Newmark’s Nathan Durham and Duane Henley represented JaRyCo, developer of FarmWorks One.
“With the current real estate landscape, we evaluated future market conditions and determined that this new space aligned with Fibergrate’s company goals,” Mac says. “Our ability to resolve an existing lease, assess potential locations and predict future market trends provided Fibergrate with a competitive edge. With our familiarity with key stakeholders, we secured the best possible lease terms, including top-of-building signage as well as significant financial benefits for our client.”
“The Allen Economic Development Corp. and Bruce Heller, the owner and developer of the building, played a huge role in helping get this assignment completed,” he added.
“Mac and the Citadel team played a pivotal role in negotiating favorable lease terms and securing Economic Development Corporation (EDC) incentives. His expertise in the local market and understanding of incentive programs ensured that we were able to optimize our leasing strategy while taking advantage of available financial incentives,” said Fibergrate President Eric Breiner.
“We could not think of a better first tenant than Fibergrate for FarmWorks One,” said Bruce Heller, President of JaRyCo. “ Fibergrate is a very successful, 50-year-old Dallas-based company that realizes the importance of a quality location for its employees, exactly what we are striving to provide at The Farm.”
“This location will help attract and retain top talent by offering a dynamic and collaborative work environment in a convenient location, conducive to employees having a work-life balance,” Mac said.
“Allen has a strong talent pool and offers a high quality of life, which is crucial for employee satisfaction,” Breiner said. “The FarmWorks One building and the entire development, in particular, stood out for its modern amenities, and its vibrant, collaborative atmosphere that aligns with our company culture. This new location will help us attract and retain top talent by offering a dynamic and collaborative work environment. The convenient location, alongside the attractive amenities, supports a work-life balance that today’s professionals value. The quality of the office space and the surrounding area will help us appeal to high-caliber candidates and improve retention.”
FarmWorks One is a 102,000 SF Class A office building featuring private balconies, an outdoor patio area and work/play outside plaza areas. The building boasts a three-story atrium lobby and an on-site fitness facility.
FarmWorks One is part of The Farm in Allen, which upon completion, is planned to have 1.6 million square feet of office space, 142,000 square feet of retail, a 150-key hotel, 60,000 square feet of restaurants, active adult senior housing, 112 townhomes and 2,400 urban residential units. The development will also embrace the property’s natural beauty with a 1.5-acre lake, boardwalk restaurants, more than 2.5 miles of hike and bike trails, a 16-acre greenbelt along Watters Creek and numerous parks throughout the project.
Breiner said several key factors influenced his decision to relocate to FarmWorks One. The project’s central location allows for connectivity and efficiency and the vibrant community and growing business ecosystem in Allen provide excellent opportunities for collaboration and networking.
“We were also impressed by the modern amenities and flexible workspace options at FarmWorks, which align perfectly with our team’s culture and needs. Overall, this choice supports our strategic goals and enhances our ability to attract and retain top talent,” Breiner added. “We are projecting significant growth over the next few years, with plans to expand both our team and our client base. Our new location in Allen will allow us to scale efficiently, attracting skilled professionals while positioning us in a growing market that supports our future expansion.”
About Citadel Partners
Citadel Partners is a real estate advisory firm providing creative real estate solutions through its office and industrial occupier and asset services industry verticals. With offices in Dallas and Fort Worth, Citadel Partners is fully equipped to serve local, regional, and national clients with its agile, highly responsive strategy-based services to improve clients’ profitability, productivity, and flexibility. Through its unique focus on business drivers, the Citadel Partners team knows how and where real estate can add value to clients’ brands, employees, and client base. For more information, visit Citadel Partners and follow Citadel Partners on Facebook, Instagram and LinkedIn.
Media Contact:
Tonie Auer for Citadel Partners
tauer@sunwestpr.com
817-925-2013